By Rasana Gasimova
Azerbaijan and Qatar have discussed the opportunities for creation of a joint Business Council, creation of joint ventures and Azerbaijani entrepreneurs’ participation in international events held in Qatar.
These issues were discussed during the meeting between the Ambassador of Qatar to Azerbaijan Faisal bin Abdullah Hamad Abdullah Al Hinzab and the Chairman of the Board of Azerbaijan’s Agency for the Development of Small and Medium-sized Enterprises (SMEs) Orkhan Mammadov on December 25.
The meeting focused on developing relations between Azerbaijan’s SMEs Development Agency and Qatar’s SMEs, organizing a visit of Azerbaijani entrepreneurs to Qatar in 2020 to share the achievements and experiences in the field, mutual exchange of investment projects, holding a business forum as part of the next meeting of the Joint Economic, Trade and Technical Commission Azerbaijan and Qatar.
During the meeting, the sides expressed satisfaction with the development of cooperation between the two countries and the work done to expand the ties. It was noted that both countries have great potential in the sphere of small and medium businesses.
The sides also exchanged views on opportunities for cooperation in the field of SMEs. The information on support for micro, small and medium-sized businesses in Azerbaijan, and activities of SMEs in this area was provided. The Ambassador of Qatar highly appreciated the economic reforms implemented in Azerbaijan and the work that the country has done to strengthen its SMEs sector.
Qatar and Azerbaijan have a wide range of business and investment opportunities. The strong ties established between the two countries create new opportunities for businesses and investors to create joint ventures.
Despite the high level of political cooperation, the trade turnover between Azerbaijan and Qatar is not big although there are more opportunities to expand it.
The trade turnover between Azerbaijan and Qatar reached $3.6 million in 2018. Almost the entire amount of trade turnover accounted for the export of Azerbaijani products to Qatar. Currently, Azerbaijan is mainly exporting food and agricultural products to Qatar.
In 2016, Joint Economic, Commercial and Technical Commission was established between the governments of Azerbaijan and Qatar. The first meeting of the Commission was held in Azerbaijan in January 2017, and the second one was held in Qatar in February 2019.
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