AZPROMO, Int’l Trade Center sign MoU [UPDATE/ PHOTO]

By Azernews

By Sara Israfilbayova

Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the International Trade Centre (ITC) have signed a Memorandum of Understanding (MoU) on July 5.

The memorandum was signed by head of AZPROMO Rufat Mammadov and Executive Director of the ITC Arancha González.

Under the memorandum, ITC will contribute to increase of competitiveness and expansion of access of products produced by small and medium-sized enterprises (SMEs) in Azerbaijan to foreign markets. In addition, the Center will support the direct access of Azerbaijani products to international electronic commercial platforms.

Addressing the signing ceremony Deputy Economy Minister of Azerbaijan, Sahil Babayev noted that the main components of the project "Be ready for trade" is the integration of SMEs into global value chains, increasing the competitiveness of products produced by SMEs, strengthening the potential of exporters' associations and creating links between SMEs in Azerbaijan and EU importers.

A day before, Economy Minister Shahin Mustafayev received González, who expressed satisfaction with the cooperation with AZPROMO.

Established in 1964, the ITC is the joint agency of the World Trade Organization and the United Nations.

ITC is the only development agency that is fully dedicated to supporting the internationalization of small and medium-sized enterprises (SMEs).

The Agency enables SMEs in developing and transition economies to become more competitive and connect to international markets for trade and investment, thus raising incomes and creating job opportunities, especially for women, young people, and poor communities.

AZPROMO was established by the Ministry of Economy of Azerbaijan in 2003 with the aim to contribute to the economic development through attracting foreign investments in the non-oil sectors of economy and stimulating expansion of country's exports of non-oil goods to the overseas markets.