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Roundtable on the development of Azerbaijan-Iraqi business cooperation held 28.09.21

On September 28, an Azerbaijan-Iraq Roundtable on business cooperation was arranged by the Small and Medium Businesses Development Agency (SMBDA) with the support of the Federation of Iraqi Chambers of Commerce. The event was attended by officials from both countries, as well as businessmen engaged in industry, agriculture, food, and pharmaceutical industries, construction, tourism, and logistics

Speaking at the Roundtable, the chairman of the SMBDA Board Orkhan Mammadov noted the development of the Azerbaijan-Iraqi economic cooperation and stressed the existence of wide opportunities for attracting representatives of small and medium businesses to this interaction. It was noted that the Agency is ready to support creating a joint platform for expanding cooperation between the business circles of Azerbaijan and Iraq. Orkhan Mammadov provided information on the SMBDA’s activity and noted that the Agency was ready to support Iraqi businessmen wishing to do business in our country in establishing relations with relevant agencies, search for reliable local partners, and other areas, and invited entrepreneurs to active discussions within the Roundtable.

President of the Federation of Iraqi Chambers of Commerce Abdulrazag Al-Zuhiri noted that Iraq is interested in investing in Azerbaijan, supplying local products to the Iraqi market, and expanding business ties.

Acting head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Yusif Abdullayev informed on his organization’s activity, the work done by AZPROMO to expand relations with foreign partners, and stressed the importance of mutual visits for the development of business cooperation.

Chargé d'affaires of the Iraqi Embassy in Azerbaijan Maki Ressan Al-Mamori and charge d'affaires of Azerbaijan in Iraq Nasir Mammadov informed of the ties between the two countries and noted that such events will play an important role in expanding the business cooperation between the two countries.

Representatives of Azerbaijani and Iraqi businessmen, industrial parks, and business associations spoke about their activities and cooperation opportunities.

Within the Roundtable, a Memorandum of Understanding was signed between the SMBDA and the Federation of Iraqi Chambers of Commerce. The document was signed by the chairman of the SMBDA Board Orkhan Mammadov and president of the Federation of Iraqi Chambers of Commerce Abdulrazaq Al-Zuhiri. The document covers issues such as the exchange of experience in supporting SMBs, promoting relations between Azerbaijani and Iraqi SMBs.

An Agreement for cooperation between the Chamber of Commerce and Industry of Azerbaijan and the Federation of Iraqi Chambers of Commerce was also signed at the event.

Representatives of the Federation of Iraqi Chambers of Commerce and entrepreneurs visiting Baku held meetings at SMBDA and other organizations. At the meeting of the chairman of the SMBDA Board Orkhan Mammadov with a delegation led by the president of the Federation of Iraqi Chambers of Commerce Abdulrazag Al-Zuhiri, attended also by acting president of AZPROMO Yusif Abdullayev, the parties exchanged views on the opportunities for cooperation in the field of entrepreneurship.

During the visit, the Iraqi delegation will get acquainted with the Pirallahi Industrial Park, Sumgayit Technology Park, and the production processes of several industrial enterprises.