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Prospects of cooperation with Japan in the field of SMBs were discussed 22.11.19

On November 21-22, the 10th meeting of the State Commission on Economic Cooperation between the Republic of Azerbaijan and Japan and the Japan-Azerbaijan Economic Committee was held in Tokyo. The event attended by representatives of the Small- and Medium-sized Business Development Agency of the Republic of Azerbaijan (SMBDA) discussed Azerbaijani-Japan economic relations, including the opportunities for SMB cooperation, and various recommendations were made.

During the visit, the SMBDA delegation held meetings with a number of Japanese agencies and organizations to discuss opportunities for cooperation in the SMB sector.

At a meeting held with representatives of the Ministry of Economy, Trade and Industry of Japan, and Small and Medium-sized Entrepreneurship Agency (SMEA), Orkhan Mammadov, Chairman of SMBDA Management Board, informed about the activities of the Agency, support, and services provided to SMBs in our country. The questions of the Japanese side on the business environment and investment opportunities in Azerbaijan, as well as prospects for cooperation in the field of SMBs,were answered.

Expressing satisfaction with the visit of the SMBDA delegation, the Japanese side informed about the activities of the SMEA, as well as other Japanese organizations supporting business and shared their views on cooperation opportunities. The meeting discussed cooperation between SMBDA and SMEA, techniques and methodologies used to support SMBs in Japan, exchange of experience in financial support mechanisms, start-ups, business innovations, and organization of study tours of Azerbaijani SMB entities and arrangement of joint events and video conferences to establish direct contacts between them, and review of opportunities for cooperation in the agricultural sector with the participation of SMBs.

During the meetings of SMBDA representatives at the Japan International Cooperation Agency (JICA) and the Japan External Trade Organization (JETRO), information was provided on the SMBs’ activities and opportunities for cooperation and views were exchanged on SMBs financing, organization of joint events and provision of technical support in the implementation of new support mechanisms for SMBs.

The meeting held with the “SME Support Japan” provided information about the electronic platform used for the agency’s activities, as well as for identification of external partners, and noted that SMBs from Azerbaijan could use this platform. The agreement has been reached to take the necessary steps to arrange joint events and contacts between entrepreneurs.