Azerbaijan’s SMBDA ready to back Turkish investors' involvement in SMBs projects

By Azernews

By Ayya Lmahamad

Azerbaijan’s Small and Medium Business Development Agency (SMBDA) is ready to provide comprehensive support to involve Turkish investors in the SMBs sector projects in the country, Azernews reports.

The remarks were made during the meeting between SMBDA’s Board Chairman Orkhan Mammadov with a delegation headed by Turkish ASKON (Anatolian Lions Businessmen’s Association) Vice President Mustafa Necati Isik.

During the meeting, it was noted that SMBDA attaches importance to the expansion of cooperation with relevant institutions in Turkiye.

The sides exchanged views on the expansion of ties between the SMBs of the two countries, as well as on the implementation of joint projects.

Azerbaijan and Turkiye collaborate in a variety of economic sectors and have completed major energy and infrastructure projects, such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP. In 2021, Azerbaijan and Turkiye signed the Shusha Declaration on Allied Relations, which focuses on defense cooperation, promoting regional stability and prosperity, and establishing new transportation routes.

The two countries set up a goal of bringing the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. So far, Turkiye is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkiye was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.