Azerbaijani SMBDA's head holds several meetings in Hungary (PHOTO)

Economy Materials 18 February 2023 14:03 (UTC +04:00)

BAKU, Azerbaijan, February 18. Chairman of the Board of the Azerbaijani Small and Medium Business Development Agency (SMBDA) Orkhan Mammadov, who is on a visit to Hungary as part of the Azerbaijani delegation, held meetings at the Hungarian Export Promotion Agency (HEPA) and the Chamber of Commerce and Industry of this country, SMBDA told Trend.

According to the agency, at the meeting with the Director of Western Balkans Projects at HEPA Gabor Jenei, an exchange of views was held on the possibilities of cooperation between Azerbaijani and Hungarian business circles, in particular, measures to coordinate SME houses.

At a meeting held at the Hungarian Chamber of Commerce and Industry, prospects for cooperation with SMBDA to support businessmen in trade operations were discussed.

During the visit, Mammadov took part in the 9th meeting of the Joint Commission on Economic Cooperation between the governments of the Republic of Azerbaijan and Hungary and at the Hungarian-Azerbaijani business forum.

Speaking at the meeting of the commission, the board chairman informed about the activities of SMBDA and the current state of its cooperation with the relevant structures of Hungary.

At the Hungarian-Azerbaijani business forum, he shared his views on the possibilities of cooperation between the business circles of both countries, emphasizing the readiness of SMBDA to carry out the necessary coordination between the SMEs of both countries.

Speaking about the support and services of SMBDA, Mammadov noted the readiness of the agency to share its experience with Hungary.

He also noted that the liberated territories of Azerbaijan have promising opportunities for foreign companies. Among the appeals of foreign companies wishing to build a business and invest in these territories, Hungarian companies also have one of the key places.

SMBDA is ready to provide support to investors wishing to invest in the liberated territories of Azerbaijan, the board chairman added.

The Azerbaijan-Hungary Business Forum took place on February 17 in Budapest during the 9th meeting of the Joint Commission on Economic Cooperation.

The business forum was attended by 87 companies, out of which 26 were from Azerbaijan and 61 companies – from Hungary.

The SMBDA was established under the Decree of the President of the Republic of Azerbaijan dated 28 December 2017. The agency’s objective is to support micro, small, and medium businesses development in the country, strengthen the role of small and medium businesses in the national economy, increase their competitiveness and contribution to the national development indicators, participate in the protection of SMEs interests and problems resolution, facilitate SMEs institutional support mechanisms, coordinate activities of government agencies and private institutions in this area.

The agency provides a government-to-business and business-to-business platform that performs coordinating, supervision, monitoring, and evaluation functions.