New business associations established in Azerbaijan

By Ayya Lmahamad

Three new business associations have been established in Azerbaijan with the support of the Small and Medium Business Development Agency under the Ministry of Economy, the ministry reported on July 24.

The new business associations are - Association of Sand, Gravel and Stone Manufactures; Association of Jewelers of Azerbaijan and the Public Association of Trade Networks.

All three business associations are registered and already operating.

New associations have been established to support the development of relevant areas, to propose and implement initiatives in these sectors, to coordinate entrepreneurs, especially small and medium-sized businesses, and to enhance cooperation between them.

It should be noted that the "Strategic road map for the production of consumer goods at the level of small and medium enterprises in the Republic of Azerbaijan" provides for the establishment of new business associations and strengthening the activities of existing associations.

The Small and Medium Business Development Agency of the Republic of Azerbaijan was established in accordance with the Decree of the President of the Republic of Azerbaijan dated December 28, 2017.

As a legal entity under the Ministry of Economy, the agency is authorized to support the development of small and medium businesses (SMBs) in the country by providing SMBs with a number of services as well as ensuring coordination and regulation of services rendered by government entities to SMBs.