By Ayya Lmahamad
Azerbaijan and Saudi Arabia have discussed cooperation in the small and medium-sized businesses sphere during the meeting held between Azerbaijan’s Agency for Small and Medium-sized Businesses Development and Ambassador Hamad bin Abdullah bin Saud bin Khudair on July 14.
Chairman of the agency’s Board Orkhan Mammadov spoke about the Agency’s support and services for small and medium enterprises, as well as cooperation with foreign partners in this field. He noted that the work is underway to develop relations with relevant agencies of small and medium-sized businesses in Saudi Arabia.
Furthermore, the parties discussed activities of the relevant working group, operated under the co-chairmanship of the Agency, within the framework of the Joint Commission on economic, trade, investment, technical, cultural, sports and youth cooperation between Azerbaijan and Saudi Arabia. In addition, the parties discussed the creation of a platform for direct contact between the businessmen of two countries.
Earlier this week, a memorandum of understanding on labor cooperation between Azerbaijan and Saudi Arabia was signed by Azerbaijan’s Labor and Social Protection of Population Minister Sahil Babayev and Saudi Arabia’s Human Resources and Social Development Minister Ahmed bin Sulaiman Al-Rajhi.
According to the document, the parties will cooperate in resolving labor disputes, inspection and protection, development of labor market policies aimed at expanding employment opportunities, development of national professional standards, improvement of national qualifications, as well as in any other areas agreed upon.
It should be noted that the trade turnover between Azerbaijan and Saudi Arabia amounted to $13.4 million in 2020. In addition, the trade turnover between the two countries amounted to $7.5 million in the first five months of 2021.
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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