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Upcoming International Business Forum in Baku aimed at presenting Azerbaijan’s investment potential (PHOTO)

Economy Materials 14 November 2021 21:34 (UTC +04:00)
Upcoming International Business Forum in Baku aimed at presenting Azerbaijan’s investment potential (PHOTO)

BAKU, Azerbaijan, Nov. 14

By Elchin Mehdiyev - Trend:

A press-conference was held at the Small and Medium Business Development Agency of the Republic of Azerbaijan, dedicated to the upcoming 25th International Business Forum (IBF) in Baku, Trend reports.

IBF President, Founder of the Association of Independent Industrialists and Entrepreneurs of Turkey (MUSIAD) Erol Yarar and Chairman of Management Board of the Small and Medium Business Development Agency of the Republic of Azerbaijan Orkhan Mammadov informed about the upcoming forum and answered the journalists’ questions.

The International Business Forum was founded in 1995 by MUSIAD and is annually held in various countries.

The goals of the forum are the development of bilateral trade and economic ties between countries, the creation of sustainable models of cooperation, the strengthening of investment cooperation and business ties, as well as the intensification of trade and economic partnership between countries in the post-COVID-19 pandemic period, the implementation of joint initiatives.

A Memorandum of Understanding was signed in July 2021 between the Small and Medium Business Development Agency of the Republic of Azerbaijan and IBF in connection with the holding of the 25th International Business Forum in Baku.

The forum will be held through the support of the Azerbaijani Ministry of Economy and the Turkish Ministry of Trade, as well as through the organizational support of the Small and Medium Business Development Agency of the Republic of Azerbaijan, MUSIAD and IBF. The forum will be held under the "Azerbaijan: Pearl of Asia" slogan.

The officials, businessmen, representatives of international organizations, diplomatic corps, chambers of commerce and business associations from almost 30 countries will participate in the forum.

The panels on investment opportunities in Azerbaijan, in particular, in agriculture, industry, tourism, the investment potential of Karabakh region, public-private partnership, as well as bilateral meetings among businessmen will be organized.

A number of documents on cooperation will be signed at the opening ceremony, to be held on November 15 at the Baku Congress Center.

The businessmen will review the work process at a number of manufacturing enterprises in Baku and districts of the country and will discuss the opportunities for cooperation and investment with local businessmen within the forum.

Some 500 foreign investors and businessmen will participate in the forum, which will last until November 17.

"We are pleased to host the 25th International Business Forum in Baku and to support the event," Chairman of Management Board of the Small and Medium Business Development Agency of the Republic of Azerbaijan Orkhan Mammadov said.

"The forum will be important for investors to know more about the economic and investment potential of Azerbaijan, including Karabakh region, liberated from the Armenian occupation as a result of the 44-day second Karabakh War," Mammadov said.

Mammadov added that among the goals of the forum are the establishment of direct ties between local and foreign investors, new cooperation between representatives of small and medium-sized businesses and the implementation of joint investment projects.

"Azerbaijan has great potential in tourism, agriculture and healthcare," President of the IBF Forum, founder of MUSIAD Erol Yarar said. "Taking this into account, we can increase the volume of trade between our countries."

Yarar said that the economic development of Karabakh region is one of the priority issues for Azerbaijan, which liberated its lands from the Armenian occupation as a result of the 44-day second Karabakh War.

"We would like to make a contribution and for this purpose we decided to hold the 25th International Business Forum in Azerbaijan," president of the IBF Forum added. "We have been working closely with the Small and Medium Business Development Agency of the Republic of Azerbaijan in this sphere for about a year."

"We arrived in Azerbaijan together with 500 Turkish businessmen working in agriculture, food, health care, tourism and other fields," Yarar said.

The president of the IBF Forum added that the goal is to invest in Azerbaijan and to further expand trade ties.

"The Azerbaijani lands liberated from occupation have great agricultural and mining potential and our delegation consists of businessmen who are also interested in these sectors," Yarar said.

Trend news agency, Day.Az and the TURKIC.World media project are the official media partners of the IBF.

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