China, Azerbaijan Strengthen Financial Ties with New MoU

Pan Gongsheng, Governor of the People’s Bank of China, and Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, have signed a Memorandum of Understanding on Cooperation in a move to enhance bilateral financial cooperation.

The agreement aims to promote the exchange of expertise and information in areas including monetary policy, the financial sector, payment systems, financial technologies, and other related fields, The Caspian Post reports via the website of the People’s Bank of China.

Azerbaijan and China maintain growing economic relations, with China being one of Azerbaijan’s key trade partners and investors. Bilateral trade spans energy, infrastructure, transportation, and technology sectors, with Azerbaijan exporting oil and gas and importing machinery, electronics, and consumer goods from China.

The partnership is reinforced through initiatives like China’s Belt and Road Initiative, positioning Azerbaijan as a strategic hub connecting East Asia and Europe. In recent years, both countries have focused on enhancing investment, trade cooperation, and joint infrastructure projects to strengthen their long-term economic ties.