The delegation of the Turkish Association of Business People and Entrepreneurs (TÜMKİAD), visiting Azerbaijan, has paid a visit to the Small and Medium Business Development Agency (SMBDA).

During the meeting held between Chairman of the Board of SMBDA Orkhan Mammadov and TÜMKİAD Chairman of the Board Ilhami Ozturk, the participants were briefed on mechanisms to support small and medium businesses, cooperation between SMBDA and relevant structures of Turkey. At the meeting, where the prospects for cooperation between SMBDA and TÜMKİAD, Orkhan Mammadov stressed that the liberated territories have great economic potential and Turkish companies have ample opportunities for participation in the reconstruction and investment in these territories. He noted that the Agency can also support the participation of Turkish investors in the projects of SMBs in Azerbaijan and the expansion of cooperation between business associations of the two countries.  

In turn, TÜMKİAD Chairman of the Board Ilhami Ozturk expressed his views on opportunities for cooperation.During the meeting, a Memorandum of Understanding (MoU) on cooperation was signed between SMBDA and TÜMKİAD. The document was signed by Chairman of the Board of SMBDA Orkhan Mammadov and TÜMKİAD Chairman of the Board Ilhami Ozturk. The MoU envisages support for mutual investment of SMBs of the two countries, organization of joint events, provision of necessary coordination during mutual business visits, exchange of information and experience.

It should be noted that TÜMKİAD is an association of Turkish businessmen uniting more than 350 companies in 27 sectors of the economy.

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