TODAY.AZ / Business

Baku, Kyiv ink cooperation accord in SMBs

15 January 2022 [10:00] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan's Small and Medium Business Development Agency and Ukraine's Investment Attraction Office (Ukraine Invest) have signed a memorandum of cooperation on January 14 in Kyiv.

The document was signed by SMBs Development Agency's Chairman Orkhan Mammadov and Ukraine Invest's CEO Sergey Tsivkach.

The memorandum envisages cooperation between the businessmen of the two countries to promote mutual investment activity, exchange of information on potential investment projects and other spheres, exchange of experience in rendering services to SMBs, and the process of organizing mutual promotional events for businessmen.

Earlier, as part of his visit to Ukraine, the chairman of Azerbaijan's Small and Medium Business Development Agency Board, Orkhan Mammadov, held various meetings with Ukrainian officials.

Moreover, Azerbaijani President Ilham Aliyev is on an official visit to Ukraine on January 14. Following the expanded meeting in Kyiv, a ceremony of signing Azerbaijan-Ukraine documents was held in the presence of President of the Republic of Azerbaijan Ilham Aliyev and President of Ukraine Volodymyr Zelenskyy.

Azerbaijan and Ukraine are cooperating in different spheres of the economy. Ukraine was Azerbaijan's second-largest trade partner among the CIS countries with a trade turnover amounting to $771.5 million in 2020. In addition, the trade turnover between the two countries amounted to $866.4 million in January-November 2021, with exports accounting for $446.9 million and imports for $419.4 million.

Additionally, Ukraine was among the countries to voice support to Azerbaijan over its just position and its territorial integrity during the 44-day Second Karabakh War with Armenia in 2020. Ukrainian companies expressed their interest in reconstructing Azerbaijan’s liberated territories.


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