BAKU, Azerbaijan, May 21. The 10th Business Forum of the Conference on Interaction and Confidence Building Measures in Asia (CICA) was held in Baku, Trend reports.
The forum is attended by, CICA Secretary General Kairat Sarybay, Chairman of the Board of the Agency for the Development of Small and Medium-sized Businesses (KOBIA) under the Ministry of Economy Orkhan Mammadov, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO) Yusif Abdullayev, President of the Confederation of Entrepreneurs of Azerbaijan Mammad Musayev, Advisor to the Chairman of KOBIA Elnur Aliyev, Director at Institute of China and Contemporary Asia of the Russian Academy of Sciences, Doctor of Philology Kirill Babaev, Chair of the Regional Department of the Association of Business Women of Kazakhstan Manat Almasheva, Chair of the Azerbaijan Association for the Development of Women's Entrepreneurship Sakina Babayeva, President of the Association of Business Women of Kazakhstan, Society and Government Relations Ayazhan Uteuova, Honorary Chair of the Regional Department of the Association of Business Women of Kazakhstan NGO Ayman Issina.
Speaking at the event, Kairat Sarybay emphasized the potential to unlock new opportunities for regional development and to foster a more inclusive, digital, and sustainable economic future.
"Today's forum provides an invaluable platform to exchange ideas, build direct connections, and explore fresh avenues for collaboration. I am confident that the discussions will be productive and will lay the groundwork for partnerships that deliver tangible benefits to businesses and communities throughout the broader CICA region," he added.
Mammad Musayev, President of the Confederation of Entrepreneurs of Azerbaijan, highlighted that targeted efforts to enhance entrepreneurship legislation and administrative procedures, boost the effectiveness of state support in regional business development, and foster education and networking have led the private sector to account for 83 percent of the country’s Gross Domestic Product and 78.6 percent of employment. Additionally, the number of active taxpayers has surpassed 700,000, with the private sector responsible for over 90 percent of new jobs created in Azerbaijan last year.
He also emphasized that 99 percent of entrepreneurial entities in Azerbaijan are small and medium-sized businesses, whose contributions to value creation, exports, employment, and investment continue to grow annually.
“As the Azerbaijan Confederation of Entrepreneurs, we prioritize the development of entrepreneurship and the protection of their rights and interests. Significant strides have been made recently, especially in expanding women’s entrepreneurship and increasing women’s active participation in economic processes. In this context, platforms like AQEM play an indispensable role in facilitating experience sharing, networking, and support for women entrepreneurs.
There are also extensive opportunities for women entrepreneurs to network across the country. I would like to especially highlight the important role of the Association for the Development of Women’s Entrepreneurship in Azerbaijan, which was established with the support of the Azerbaijan Confederation of Entrepreneurs, in advancing these efforts,” Musayev said.
Additionally, Yusif Abdullayev noted that in the first quarter of 2025 alone, Azerbaijan’s exports to member countries of the Conference on Interaction and Confidence Building Measures in Asia (CICA) reached $1.2 billion, with the total trade turnover hitting $4.6 billion. These figures reflect the deepening economic ties between our nations.