Azerbaijan, Kyrgyzstan discuss SMBs cooperation dev't

By Azernews

By Ayya Lmahamad

Azerbaijan and Kyrgyzstan have discussed issues of development of cooperation in support of small and medium-sized businesses (SMBs), Azernews reports.

The discussion took place during the meeting between Azerbaijani Small and Medium Business Development Agency Board Chairman Orkhan Mammadov with the Kyrgyz Chamber of Commerce and Industry President Marat Sharshekeyev.

During the meeting, the parties discussed the framework of the recently signed memorandum, experience exchange and cooperation expansion between Azerbaijani and Kyrgyz businesses.

To recall, this week, Azerbaijan and Kyrgyzstan signed a memorandum of understanding on SMBs cooperation. The memorandum provides for the promotion of cooperation in trade and investment, exchange of information on actions, experience and services provided by SMBs, organization of business missions, development of bilateral relations between entrepreneurs, search for business partners, as well as support for the creation of cooperation platforms.

Diplomatic relations between Azerbaijan and Kyrgyzstan were established on January 19, 1993. The embassy of Azerbaijan in Kyrgyzstan was established in October 2007, while the embassy of Kyrgyzstan in Azerbaijan was opened in October 2014.

In total, around 58 documents were signed between the two countries. The trade turnover between the two countries amounted to $9 million in 2021.