A public discussion on "Agribusiness: new opportunities and modern challenges" was organized by the Public Council under the Small and Medium Business Development Agency (KOBİA) with the support of the Ministry of Agriculture and the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan.

Representatives of state and private institutions, business associations operating in the agrarian field took part in the event.

Inam Karimov, the minister of agriculture, who participated in the public discussion, stressed that one of the top priorities of the socio-economic development strategy carried out under the direction of the head of state is to improve the environment for the growth of agribusiness fields in the country. It was noted that new challenges have emerged in the world related to the economy, environment, and climate change. Our goal is to constantly maintain a new and modern agribusiness environment in accordance with new challenges. By bringing together the parties who have a role in the development of agribusiness, such public conversations are crucial for determining the techniques and instruments to address the obstacles, including the assessment of the international and local experience, the current situation, and the opportunities. Additionally, Minister Inam Karimov provided information on the agribusiness support programs implemented.

Mammad Musayev, president of the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan, noted that 35% of the employed population works in the field of agriculture. As of September 1, 2022, 598.8 million manats of loan have been allocated to agriculture, which is 3.1% of the total loan investment. Despite serving a large portion of the workforce, this sector's loan level is unsatisfactory. Businesspeople in this sector suggest enhancing the lending process' insurance mechanism. Improving the insurance mechanism in lending can also help to solve the collateral problem.

Orkhan Mammadov, the chairman of the KOBİA Board of Directors, provided information on the support systems for creating and growing the Agency's agribusiness activities. He shared his views on business growth in the fields of agricultural production, processing, and sales as well as the challenges faced by business owners. He also offered a number of suggestions. It was noted that the main problems that concern businesspeople in the agricultural sector include lack of extensive use of the agricultural insurance system, difficulties with irrigation water, lack of access to quality agronomist and other advisory services, the need to improve subsidy and other financing mechanisms, the difficulty of documentation procedures in the field of food safety, obsolescence of technological equipment, access to markets, etc.

Farhad Garashov, the chairman of the Public Council under KOBİA, said that public discussions on priority topics will be organized by the Public Council under the Agency in the coming months with the participation of small and medium business entities operating in various sectors of the economy, relevant state institutions and civil society institutions.

Entrepreneurs' suggestions for the sector's development and the challenges they faced were heard at the event. Officials of the relevant state authorities responded to their queries.

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