Azerbaijan becoming new leading logistics hub of global supply chains in Eurasia – Russian Gazprombank

By Trend

Azerbaijan is becoming a new leading logistics center in the context of the restructuring of global supply chains in Eurasia, occupying a strategic central position between Europe and China and having a developed aviation, rail, pipeline and maritime infrastructure, Deputy Head of the Market Analysis Department of the Russian Gazprombank Gulnara Khaidarshina told Trend.

"In medium term perspective, the diversification of Azerbaijani economy will be facilitated by new projects in Karabakh, which include the construction of transport and social infrastructure, industrial parks and renewable energy facilities," she noted.

"All these factors create prerequisites for improving the outlook for Azerbaijan's rating and a possible upgrade to investment grade," Khaidarshina added.

She said that due to absence of repetitive tightening of quarantine measures, Gazprombank is seeing a recovery in economic activity in Azerbaijan’s non-oil sector.

Khaidarshina also said that Azerbaijan, being an exporter of oil and gas, is one of the key beneficiaries of high prices for hydrocarbons.