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Official highlights SME's role in reaching $15bn trade turnover with Turkey

28 February 2020 13:40 (UTC+04:00)
Official highlights SME's role in reaching $15bn trade turnover with Turkey

By Akbar Mammadov

Azerbaijan and Turkey signed a preferential agreement to work towards boosting the trade turnover to $15 billion during Turkish President Recep Tayyip Erdgoan’s visit on February 25 .

The cooperation between Turkey and Azerbaijan in the small and medium-sized enterprises (SMEs) has a huge potential in helping the two countries to reach the target $15billion-trade turnover, chairman of the board of Azerbaijan’s Agency for the Development of Small and Medium-sized Enterprises Orkhan Mammadov said at press conference in Baku on February 27.

Mammadov said that relevant measures are being taken to this end.

“Turkey attaches great importance to the development of SMEs in the country and since the signing of the memorandum of understanding in May 2019, we have been closely cooperating with the KOSGEB - Turkey’s Small and Medium Enterprises Development Organization - in various fields, including the exchange of experience,” the chairman added.

In terms of the number of companies with foreign capital in Azerbaijan, Turkish companies rank first, and this is a good sign for expanding contacts and investments, in which Ziraat Bank also plays an active role, said Mammadov.

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