The ICIEC has identified substantial potential to expand its operations in Azerbaijan, including increasing insurance coverage and attracting additional investments, as Yasser Alaki emphasized.
“Azerbaijan joined ICIEC in 2020. Since then, we have engaged with numerous partners in the country, notably AZPROMO, which serves as one of our key market collaborators. Our primary focus has been on the financial and industrial sectors. In collaboration with Azerbaijani banks, we aim to support trade finance activities that enable Azerbaijani exporters to access global markets. Additionally, we provide insurance solutions that mitigate the risk of non-payment by importers worldwide”, Alaki explained. "ICIEC insures Azerbaijan's investments and exports, reducing risks and expanding access to international financing”, Director of the Business Development Department at ICIEC added.
He noted that there are plans to expand the portfolio of guarantees and insurance solutions for projects in Azerbaijan. “To date, we have already covered approximately USD 120 million in business in Azerbaijan, including trade and investment. We believe this is still a modest figure, and we see significant potential for expanding our services in the country. Therefore, we plan to work with our partner AZPROMO, with local banks, as well as with international banks, to attract more investment to the country. We have big ambitions to expand our operations in Azerbaijan, and as part of the group’s annual meetings, we will hold talks with key clients and partners to further grow our business in the country”, Alaki concluded.
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