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Azerbaijan, Japan mull cooperation in SMBs

16 February 2021 14:37 (UTC+04:00)
Azerbaijan, Japan mull cooperation in SMBs

By Ayya Lmahamad

Azerbaijan and Japan have discussed cooperation between the small and medium businesses (SMBs) of the two countries during the meeting held between Chairman of the Agency for Small and Medium-Sized Business Development Orkhan Mammadov and Japanese Ambassador Junichi Wada on February 16.

The parties exchanged views on potential investment projects and the establishment of relations with the relevant Japanese structures.

Ambassador Wada expressed support for the establishment and expansion of ties between relevant Japanese institutions and SMBs in the field of small and medium-sized business development.

Moreover, cooperation opportunities, including an expansion of trade relations between SMBs of the two countries, implementation of joint projects and SMBs support in this process were discussed during the meeting.

Mammadov briefed the ambassador on the activity of SMBs and the agency’s support mechanism provided to them.

In an earlier meeting on January 19, the ambassador had expressed the Japanese companies’ interest in participating in the restoration and reconstruction work to be carried out in the energy field in Azerbaijan’s liberated territories. During the meeting held between Azerbaijan’s Energy Ministry and the representatives of Japanese company TEPSCO in videoconference format on February 2, the sides had discussed the Japanese practice in the establishment of green energy zones and “smart cities” for the establishment of green energy concept in the liberated territories.

It should be noted that the trade turnover between the two countries amounted to $200.4 million in 2020. Of the total turnover, Azerbaijan’s export to Japan amounted to $5.3 million, while import from Japan to $195.1 million.


Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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