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Agency for SMEs development expands cooperation with BP, EBRD

20 December 2018 15:47 (UTC+04:00)
Agency for SMEs development expands cooperation with BP, EBRD

By Narmina Mammadova

Azerbaijan pays special attention to the development of small and medium-sized businesses. Thus, the country is involved in the process of stimulation their business activities.

The Agency for the Development of Small and Medium-Sized Enterprises (SMEs) (KOBİA) of Azerbaijan decided to expand cooperation by signing relevant documents and holding meetings with EBRD and BP.

Representatives of the Agency for the Development of Small and Medium-Sized Enterprises (SMEs) (KOBİA) of Azerbaijan were on a visit to the UK.

The Chairman of the Board of the Agency, Orhan Mammadov, held a series of meetings with the heads of the functional units of the European Bank for Reconstruction and Development (EBRD), the Agency said.

At a meeting with the head of the EBRD Small and Medium Business Development Program, Nadya Petkova, information on KOBİA activities was provided, issues on cooperation between the EBRD and KOBİA, implementation of programs envisaged to support and finance start-ups in Azerbaijan, and small and medium businesses based on international best practice were discussed.

An exchange of views on projects, implemented by the Bank for the development of small and medium-sized businesses in Azerbaijan, was held at meetings with the authorized representatives of the EBRD Project Preparation Fund and the EBRD Legal Transformation Program, Matthew Jordan and Michel Nussbaumer.

They also touched upon the issues of new areas of cooperation prepared by the EBRD in relevant fields for the future.

As a result of discussions, such areas of cooperation as exploring potential collaboration opportunities in the development of entrepreneurship, integration of the Azerbaijani Agency into the EBRD's global small and medium business network, preparation of projects within the framework of a partnership in the state-private sector, the use of technical support mechanisms for the development of small and medium businesses by the Bank were identified.

Meanwhile, a ceremony of signing a memorandum of understanding between the Azerbaijani Agency for Development of Small and Medium-Sized Enterprises and BP was held in Baku on December 20.

BP and partners are interested in increasing the number of Azerbaijani companies participating in their projects in the region, BP Azerbaijan Communications, External Affairs, Strategy and Region Vice President Bakhtiyar Aslanbayli said at the event.

“The memorandum envisages support for the development of small and medium-sized businesses in the country,” he said.

Aslanbayli also touched upon the entrepreneurship development program, which has been implemented since 2007.

“The main goal of the program is to give impetus to the development of entrepreneurship in the country,” he added. “Thus, 2,000 small and medium-sized businesses used the program.”

Speaking about the Azerbaijani Agency for Development of Small and Medium-Sized Enterprises, Aslanbayli said that the agency managed to achieve success in the short time since its launch.

Small and medium-sized businesses play an important role in development of the country's economy.

The Chairman of the Board of the Azerbaijani Agency for Development of Small and Medium-Sized Enterprises, Orkhan Mammadov, stressed that the Agency appreciates the cooperation with BP, which throughout its activity in Azerbaijan has given impetus to sustainable development in the country not only in the energy sector, but also in the development of small and medium-sized businesses.

The Agency for Small and Medium Business Development of Azerbaijan was established on the basis of the decree on improvement of management in the field of small and medium-sized businesses signed by President Ilham Aliyev in December 2017.

The task of the Agency is to ensure the consistency of reforms, as well as the improvement of the business regulation system and the application of effective coordination, enhancing the role and competitiveness of small and medium-sized businesses in the country's economy, and the compliance of the management system of this sphere with modern requirements.

As a single structure with special powers, through the Houses of SMEs, the Agency organizes, coordinates, evaluates and regulates the services rendered by state agencies and organizations in this area.

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Agency for SMEs development expands cooperation with BP, EBRD - Gallery Image
Agency for SMEs development expands cooperation with BP, EBRD - Gallery Image
Agency for SMEs development expands cooperation with BP, EBRD - Gallery Image
Agency for SMEs development expands cooperation with BP, EBRD - Gallery Image
Agency for SMEs development expands cooperation with BP, EBRD - Gallery Image
Agency for SMEs development expands cooperation with BP, EBRD - Gallery Image
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