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Azerbaijan, Ukraine sign agreement on SMEs cooperation [PHOTO]

3 February 2020 12:32 (UTC+04:00)
Azerbaijan, Ukraine sign agreement on SMEs cooperation [PHOTO]

By Rasana Gasimova

Azerbaijan's Agency for the Development of Small and Medium-sized Enterprises (SMEs) and Ukrainian Chamber of Commerce and Industry have signed a protocol of cooperation.

The document was signed as part of the 12th meeting of the intergovernmental commission on economic cooperation between Azerbaijan and Ukraine held in Kyiv on January 31, SMEs Development Agency media reported.

The document signed by Chairman of SMEs Agency Orkhan Mammadov and President of the House Gennady Chizhikov reflects issues related to the exchange of information and experience, as well as organization of joint events.

Addressing the meeting, Orkhan Mammadov emphasized the great potential of both countries in the field of small and medium-sized enterprises. He also noted the important role of various events in expanding relations between SMEs. He informed the participants about the state support provided to the development of the SMEs sector and the Agency's activities in this direction.

The Agency also proposed to identify areas of cooperation in the field of SMEs, create an Azerbaijan-Ukrainian business council, establish active ties between business associations, to study Ukraine’s experience in cooperation between the public-private sector, as well as create joint ventures.

Note that the trade turnover between Azerbaijan and Ukraine increased by 15.5 year year-on-year in 2019 and the two countries are taking measures to expand and diversify the bilateral trade ties.

In December 2019, the countries held the Azerbaijan-Ukraine business forum aimed to further develop economic and trade relations. Over 90 companies from Ukraine and more than 100 companies from Azerbaijan participated in the forum.

As part of the forum, a protocol of intent was signed between the city of Ganja and the city of Odessa and an Agreement on trade, economic, scientific, technical and cultural cooperation between the city of Guba and the city of Truskavets.

An agreement on cooperation between the Ministry of Economy of the Republic of Azerbaijan and the State Regulatory Service of Ukraine in the field of the regulation of conditions of doing business was also signed.

Azerbaijan Trade House was opened in 2018 in Kyiv and Ukrainian Trade House was opened in Baku in December 2019.

Companies with Ukrainian capital successfully operate in industry, construction, trade, agriculture, transport, services and other areas of Azerbaijani economy. The two countries have potential for cooperation in various sectors of economy, including transport, ICT, tourism and other areas.


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