TODAY.AZ / Business

Azerbaijan, Israel mull creation of joint platform for SMBs cooperation

17 June 2022 [10:00] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan and Israel have discussed the possibility of creating a joint platform for the two countries' small and medium-sized business cooperation, Azernews reports.

The discussion took place during the meeting between Orkhan Mammadov of the Azerbaijani Agency for Small and Medium-sized Business Development and Israeli Holon city Deputy Mayor Mikhail Sutovsky.

During the meeting, the parties were briefed on the expansion of business relations between the two countries and the support provided to SMBs.

Azerbaijan and Israel have been expanding bilateral cooperation over years.

The Azerbaijani and Israeli cooperation is founded not only on economic partnership but also on traditional historical and cultural roots, as well as mutual respect and trust. Israel was one of the first countries to recognize Azerbaijan's state independence and establish diplomatic relations.

Furthermore, during the 44-day Second Karabakh War, Israel was among the first countries to express support for Azerbaijan's just position and territorial integrity. Azerbaijan expressed its willingness to involve Israel in the restoration of the country's newly liberated territories in January 2021. As a result, Israel will construct a buffalo farm in Azerbaijan's liberated Zangilan region.

Azerbaijan established its first Trade and Tourism Representative Office in Israel last year. In 2021, the two countries' trade turnover totaled $928.4 million.


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