TODAY.AZ / Business

Azerbaijan, Hungary mull co-op in small, medium-sized businesses

17 February 2020 [14:06] - TODAY.AZ

By Azernews

By Abdul Kerimkhanov

Azerbaijan and Hungary intend to build cooperation between Small and Medium-sized Businesses (SMEs) in the two countries in the field of agriculture, industry, ICT and health.

During the meeting held on February 14 between Chairman of the Board of the Agency for the Development of SMEs Orkhan Mammadov and CEO of Hungarian Export Promotion Agency (HEPA) Balazs Hendrich, the sides discussed holding joint events, mechanisms of methodology and financing of market research for SMEs involved in export.

The meeting was held as part of the 7th meeting of Azerbaijan- Hungary Joint Commission on Economic Cooperation in Budapest.

The agenda of the meeting included issues on expanding cooperation between SMEs and the relevant structures of Azerbaijan and Hungary. The preparation of a Joint Action Plan and the visit of the HEPA delegation to Baku were also on the agenda of the meeting.

Note that Azerbaijan’s Agency for SMEs Development and HEPA signed a memorandum of cooperation during the business forum organized within the framework of the 7th Summit of Cooperation Council of Turkic-Speaking States in Baku on 15 October 2019.

At a meeting between Agency representatives and Attila Galambos who is a President of the West-Balkan Committee of the Hungarian Chamber of Commerce and Industry, information was provided on the Agency’s activities.

In addition, an exchange of views was held on the organization of joint events and missions, the creation of a single platform for the development of cooperation between SMEs of the two countries; on the establishment of joint ventures with Hungarian companies in agriculture and the food industry.

Furthermore, Hungarian companies were invited to Azerbaijan to actively use the favorable investment environment of the biggest country in the South Caucasus.

The mission of the Agency for SMEs Development is to increase the efficiency of small and medium enterprise system regulation, ensure a variety of support mechanisms and entrepreneurs’ smooth access thereto, achieve sustainable SMEs sector development and its increased contribution to the national economy. The Agency’s main target is to fulfill an important mission of being a friend of entrepreneur.


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