On November 13, the Small and Medium Business Development Agency (SMBDA) held a press conference dedicated to the upcoming 25th International Business Forum (IBF) in Baku.
At the press conference, IBF president, founder of the Association of Independent Industrialists and Entrepreneurs of Turkey (MUSIAD) Erol Yarar and chairman of the SMBDA Board Orhan Mammadov provided information on the upcoming forum and answered the media questions. It was noted that the International Business Forum was founded by MUSIAD in 1995, and was annually held in different countries. The forum is aimed at developing bilateral trade and economic relations between countries, creating sustainable cooperation models, strengthening investment cooperation and business ties, as well as intensifying trade and economic partnerships between countries in the post-COVID period, and implementing joint initiatives.
In July of this year, a Memorandum of Understanding was signed between SMBDA and IBF in connection with holding the 25th International Business Forum in Baku. The forum will be held with the support of the Ministry of Economy of the Republic of Azerbaijan and the Ministry of Trade of the Republic of Turkey, s well as the organizational support of SMBDA, MUSIAD, and IBF. The forum will be held under the "Azerbaijan: pearl of Asia" slogan.
The forum will be attended by officials, businessmen, and representatives of international organizations, diplomatic corps, chambers of commerce, and business associations from about 30 countries. At the opening ceremony to be held at the Baku Congress Center on November 15, panels on investment opportunities in Azerbaijan, in particular, agriculture, industry, and tourism, the investment potential of Karabakh, and public-private partnership (PPP), as well as bilateral meetings between entrepreneurs will be arranged, and a number of collaboration documents will be signed. Within the framework of the forum, businessmen will also review the work process at some manufacturing enterprises in Baku and the country regions, and discuss the opportunities for cooperation with local businessmen, and investment. About 500 foreign investors and businessmen are expected to attend the forum, which will last until November 17.
The chairman of the Board of the Small and Medium Business Development Agency (SMBDA) of the Republic of Azerbaijan Orkhan Mammadov said: “We are pleased to host the 25th International Business Forum in Baku and the SMBDA’s opportunity to support the event. The forum will be important for a wide audience of investors to know more about the economic and investment potential of Azerbaijan, including Karabakh liberated from occupation as a result of the 44-day Patriotic War. Establishing direct ties between local and foreign investors and new cooperation between SMBs and implementing joint investment projects are among the forum goals."
President of the IBF forum and founder of MUSIAD Erol Yarar said: “Azerbaijan has great potential in tourism, agriculture, and healthcare. Considering this, we can further increase the volume of trade between our countries. For Azerbaijan liberated its lands from occupation as a result of the 44-day Patriotic War, the economic development of Karabakh is among the priority issues. We in MUSIAD would like to make our contribution, and for this purpose, decided to hold the 25th International Business Forum in Azerbaijan. We have been working closely with SMBDA in this sphere for about a year. We arrived in Azerbaijan together with 500 Turkish businessmen engaged in agriculture, food, healthcare, tourism, and other fields. The goal is to invest in Azerbaijan and further expand trade ties. The Azerbaijani lands liberated from occupation have great agricultural and mining potential, and our delegation includes Turkish businessmen who are also interested in these sectors."
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