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Delegation of SMBDA participated in the 2nd Caspian Business Forum held in the USA 25.09.19

The delegation of the Small and Medium Business Development Agency (SMBDA) participated in the 2^nd Caspian Business Forum held in New York, USA.

The Forum participants representing government and business entities from various countries, including Kazakhstan, Georgia, Tajikistan, and Uzbekistan, discussed diverse opportunities for economic cooperation and future expansion of relations.

Speaking at the Forum, Chairman of SMBDA Management Board Orkhan Mammadov provided information on the economic development of Azerbaijan, including the establishment of favorable economic and investment environment as well as the measures implemented to ensure the development of entrepreneurship, particularly small and medium enterprises. He emphasized that, in the country, particular importance is attached to the development of small and medium enterprises, thus, the Small and Medium Business Development Agency was established to provide the necessary support for the development of SMBs. Highlighting the Agency’s activity, the chairman pointed out at the appropriate mechanisms SMBDA uses to provide services and support to micro, small, and medium enterprises. In the area of supporting SMBs, SMBDA is interested in learning the advanced countries’ experience, including that of the USA.

To ensure the expansion of SMB sector’s links and exchange of experience, the delegation of SMBDA had, in 2018, paid visits to the USA to conduct a series of fruitful meetings dedicated to the relevant areas of cooperation as well as to participate in the U.S.- Caspian Innovation Summit with the presence of a group of Boston based Azerbaijani businesspeople. SMBDA is interested in cooperation with relevant US SMB sector entities, including cooperation in such areas as agribusiness, e-commerce etc. Representatives of relevant business entities and entrepreneurs could exchange visits to facilitate the enhancement of relations in the sector of SMB. To ensure the influx of investments as well as the implementation of joint projects in our country, SMBDA invites representatives of the US business entities and SMBs to visit Azerbaijan.

SMBDA delegation plans to meet with various entities and organizations during the visit to the United States to discuss the possibilities of cooperation in the SMB sector.