Baku, Bern mull potential cooperation in SMBs sector

Azerbaijan and Switzerland have discussed potential areas of bilateral cooperation in the small and medium business development sector.

The discussion took place during a meeting between the chairman of the Azerbaijani Agency for Small and Medium Business Development, Orkhan Mammadov, and Swiss Flitex Inc company director Franco Santini.

During the meeting, the parties discussed the importance of public-private partnership in the SMB sector and the study of international experience in this area. They also discussed support that the agency can provide to establish cooperation between the Swiss company and local entrepreneurs.

Azerbaijan's Small and Medium Business Development Agency continues to hold meetings with local and foreign entrepreneurs in order to expand relations and implement new business initiatives.

Azerbaijan and Switzerland are cooperating in various economic fields. Diplomatic relations between the two countries were established on January 21, 1992.

There is mutually beneficial cooperation between Baku and Bern in the non-oil sector. In addition, Baku will host a meeting of the Commission on Trade and Economic relations between Switzerland and Azerbaijan in 2022.

The trade turnover between the two countries amounted to $457.2 million in 2021, with exports accounting for $272.5 million and imports for $184.7 million.