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Azerbaijan, United Arab Emirates eye cooperation in sphere of SMBs

Azerbaijan, United Arab Emirates

Azerbaijan’s Small and Medium Business Development Agency discussed the prospects of cooperation in the sphere of small and medium businesses with representatives of various UAE’s agencies, during their visit to Dubai, the United Arab Emirates.

During the meeting of Chairman of the Agency Orkhan Mammadov with Deputy Director General of Dubai Investment Corporation Khalifa Hassan Al-Daboos, the chairman of the agency briefed on the measures of state support for SMBs in Azerbaijan and the activities of the Agency. In addition, the parties exchanged views on the prospects of cooperation.

Possibilities for joint projects using the opportunities and benefits created in the industrial parks of Azerbaijan, for the implementation of projects involving SMBs with the financial support of the Dubai Investment Corporation were emphasized.

Moreover, the parties briefed on the implementation of business projects in Azerbaijan’s liberated territories.

Furthermore, during the meeting with President of Dubai Chamber of Commerce and Industry Hamad Buamim, the parties focused on the access of Azerbaijani SMBs to foreign markets.

Cooperation and exchange of experience between the Agency’s SMB Development Centers and the Dubai Startup Network, which provides access to knowledge and skills of SMBs, were discussed during the meeting.

Additionally, it was noted that the member companies can participate in the implementation of investment projects in Azerbaijan’s liberated territories with the support of the Agency in such areas as information, search for local partners, market research, etc.

It should be noted that earlier a delegation of Azerbaijan’s Agency for Small and Medium Business Development visited the Azerbaijan pavilion at the Global Village International Fair, which is held annually from October to April in Dubai.

The trade turnover between Azerbaijan and the United Arab Emirates amounted to $36 million during the period of January-November 2020. Of the total turnover, export amounted to $8.7 million, while import to $27.3 million.

By Ayya Lmahamad

About Fidan Abdullayeva