OREANDA-NEWS. December 15, 2014. Mr Elman Rustamov, Governor of the CBA met the delegation headed by Mr Charles Hendry, the British PM’s Trade Envoy to Azerbaijan, Kazakhstan and Turkmenistan, the MP.

The meeting participants discussed the macroeconomic situation, development of the banking sector, financial stability, prospects of trade and investment ties between the two countries.

E.Rustamov detailed the guests on macroeconomic stability in the country, economic growth, the development of the non-oil sector, the country’s foreign position, as well as the financial – banking system, including the CBA’s monetary policy, the banking sector development, conducted reforms, and banks’ capitalization. Also E.Rustamov spoke of the diversification of the economy and expansion of the financial sector, the history of the country’s economic development, the phases of financial – banking system building, relevant reforms, as well as Azerbaijan’s future development priorities.

Mr Charles Hendry mentioned that economic ties between Great Britain and Azerbaijan are on a high level, and expressed his satisfaction with getting to know our country and the CBA. He highly appreciated the CBA performance and the reforms it has conducted in the banking system building. He said that British companies are keen on cooperation with Azerbaijan in diverse areas, including the banking system, further expansion of trade ties and cooperation in the non-oil sector.

The meeting participants discussed the current status of relations between banking sectors of the two countries, as well as elevating the role of financial institutions, particularly of banks in mutual trade and investments and relevant development prospects.