Azerbaijan and Turkey ink MoU to support SMEs

By Trend

The delegation of the Organization of Businessmen and Entrepreneurs of Turkey (TÜMKİAD), which is on a visit to Azerbaijan, has visited the Small and Medium Business Development Agency (SME), the Agency told Trend.

During the meeting held between Chairman of the Board of the SME agency Orkhan Mammadov and Head of TÜMKİAD Ilham Ozturk, information was provided on the activities of the agency, mechanisms for supporting SMEs, cooperation between the agency and the relevant structures of Turkey, as well as the prospects for cooperation between the two departments were discussed.

Mammadov stressed that Azerbaijan’s liberated territories have great economic potential, and Turkish companies have ample opportunities to participate and invest in restoration work in these territories.

The agency can also support the participation of Turkish investors in the projects of SMEs in Azerbaijan and the expansion of cooperation between business associations of the two countries, he added.

In turn, Ilham Ozturk shared his opinion on the possibilities of cooperation.

In the course of the meeting, a Memorandum of Understanding was signed between the SME agency and TÜMKİAD.

From the Azerbaijani side, the document was signed by Orkhan Mammadov, from the Turkish side - by Ilkham Ozturk.

The document envisages the provision of support for mutual investments of small and medium-sized enterprises of the two countries, the organization of joint events, ensuring the necessary coordination during mutual working trips, the exchange of information, and best practices.

TÜMKİAD is an association of Turkish businessmen uniting more than 350 companies in 27 sectors of the economy.