Azerbaijan mull SMBs cooperation with Philippines, Spain

By Azernews

Azerbaijan's Small and Medium Business Development Agency continues to hold meetings with local and foreign entrepreneurs in order to expand relations and implement new business initiatives.

During the meeting with the Philippines ambassador Marina Elena Algabre, the parties discussed potential areas of cooperation between the two countries. 

They discussed the establishment of relations with the relevant Philippines institutions in the SMBs sector, and the country's experience in the provision of support and services to businesses.

Moreover, Agency Board Chairman Orkhan Mammadov also hold a meeting with Adolfo Romero De Marcelo, executive director of the Caucasus office of the Spanish organization Extenda.

The sides have discussed the agency's support for local entrepreneurs in expanding sales opportunities and access to foreign markets. They also briefed on trade and cooperation opportunities between Azerbaijani and Spanish businessmen.

It should be noted that Azerbaijan's trade turnover with the Philippines amounted to $3.9 million in 2021, while with Spain to $645.8 million.

The Azerbaijani Small and Medium Business (SMB) Development Agency was established by presidential decree in December 2017. As a legal entity under the Economy Ministry, the agency is authorized to support the development of small and medium businesses (SMBs) in the country by providing SMBs with a number of services as well as ensuring coordination and regulation of services rendered by government entities to SMBs.