"Azerbaijan has potential for achieving European indicators in development of SMEs"
Azerbaijan has great potential for the development of small and medium-sized businesses (SMEs) and the achievement of European indicators in this area, the head of Operations Section at the EU mission in Baku, Jeroen Willems said at an event in Baku on Dec.7.
"About 99 percent of all businesses in Europe are small businesses. 85 percent of new jobs and two-thirds of all jobs in the private sector account for the SMEs." SMEs make up 60 percent of GDP and employment in Europe, " Willems said.
He further noted that in Azerbaijan these figures are much lower than European ones. "According to statistics, small and medium-sized enterprises account for less than 10 percent of GDP and employment. The development of SMEs will help increase the country's income and achieve European targets in this direction," Willems said.