Azerbaijan's SME development agency lays basis for co-op with Russian SME Corporation 

  27 September 2018    Read: 979
Azerbaijan

The Agency for Development of Small and Medium-Sized Enterprises of Azerbaijan has managed to lay the foundation for successful cooperation with the Federal Corporation for Development of Small and Medium-Sized Enterprises of Russia (SME Corporation), Chairman of the Agency's Board Orkhan Mammadov said Sept. 27 during his speech at a panel session dedicated to "Cooperation on Small and Medium-Sized Businesses" within the 9th Azerbaijan-Russia interregional forum.

"We have signed a memorandum of understanding, as well as a road map, in which specific activities and deadlines for their implementation are shown. By making joint efforts, we will be able to effectively realize the potential that is laid down in the road map," Mammadov said.

He noted the high level of economic cooperation with Russia and stressed the intention to further develop it.

"It is enough to note that 759 companies with Russian share are functioning in Azerbaijan, which are represented in such areas as industry, construction, trade, banking and insurance, communications, transport and agriculture. Russian companies are contractors in eight state projects. Azerbaijani companies are also represented in the Russian market; today there are also the companies which are just starting to enter the Russian market," Mammadov said.

He noted that the Agency plans to improve cooperation with various associations of entrepreneurs.


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