Azerbaijan mulls co-op in SMBs field with Turkey, Serbia

By Azernews

By Ayya Lmahamad

Azerbaijan’s Agency for Development of Small and Medium-sized Businesses Chairman Orkhan Mammadov has discussed cooperation in the small and medium-sized businesses field with Turkish Ambassador Jahit Bagchi and Serbian Ambassador Dragan Vladisavljevic.

During the meeting with Bagchi last week, the parties discussed the expansion of cooperation between the SMBs of the two countries and the implementation of joint initiatives in this direction as well as the projects with the participation of SMBs.

During the meeting with the Serbian Ambassador, the parties discussed the SMBs support mechanisms, the establishment of relations between the Agency and Serbian agencies, the expansion of cooperation between SMBs of the two countries and the implementation of joint projects.

Earlier it was reported that Azerbaijan’s trade turnover with Serbia tripled in 2021 as a result of the comprehensive strategic partnership between the two countries. The trade turnover between the two countries amounted to $5 million during the first half of the year. In addition, total turnover between Azerbaijan and Serbia in 2020 amounted to $9 million.

Azerbaijan and Turkey cooperate in various fields of economy. The countries have jointly completed giant energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars and TANAP.

Eleven agreements, envisaging the development of the bilateral cooperation in the economic, trade and other spheres, were signed between the two countries within the Azerbaijani-Turkish business forum held in Ankara on February 18. Afterward, Azerbaijan and Turkey have signed a memorandum of understanding in the areas of strengthening international legal cooperation. Moreover, on June 15, Azerbaijani and Turkish Presidents have signed a Shusha Declaration on allied relations between the two countries.

The trade turnover between Azerbaijan and Turkey amounted to $2.2 billion in the first half of 2020. In addition, the trade turnover between the two countries amounted to $4.1 billion in 2020.