Azerbaijan, Lithuania discuss ways of practical implementation of signed deals

By Azernews

Azerbaijan’s Small and Medium Business Development Agency’s Board Chairman Orkhan Mammadov and Lithuania’s Chambers of Commerce, Industry and Crafts Director-General Giedre Razinskiene have discussed issues arising from the already signed memorandum of understanding (MoU), Azernews reports.

To recall, the MoU between the agency and the chamber was signed during the Azerbaijani-Lithuanian business forum held in Baku on May 18.

The MoU provides for the development of trade and investment cooperation between the SMBs of the two countries, mutual information on innovations in entrepreneurship, exchange of experience in providing services to SMBs, organizing seminars, exhibitions, and other promotional activities to strengthen cooperation.

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.

A number of documents were signed between the two countries, within the framework of the business forum.

The partnership between the two countries is based on mutual respect and friendship, and the recent visit of the Lithuanian president to Azerbaijan has given an impetus to further strengthening and expanding these relations.

The trade turnover between Azerbaijan and Lithuania amounted to $42 million in 2021.