Azerbaijan - Saudi Arabia Joint Business Council holds first meeting

Azerbaijan - Saudi Arabia Joint Business Council held its first meeting in Riyadh, Azernews reports, citing the Small and Medium Business Development Agency (SMBDA).

SMBDA noted that the representatives of institutions supporting business in Azerbaijan, as well as tourism, agriculture, industry, construction, investment, transport, consulting, etc., and businessmen operating in the sectors are on a visit to Saudi Arabia.

The purpose of the visit, which was organized by SMBDA and supported by the Embassy of Azerbaijan in Saudi Arabia, is to expand relations between SME subjects and organizations that provide support and services to entrepreneurs of both countries, opportunities to realize joint business and investment projects with the participation of SMEs, and is a review of the exchange of experience.

Within the framework of the visit, the first meeting of the Azerbaijan-Saudi Arabia Joint Business Council was held in Riyadh. Officials and businessmen from both countries participated in the meeting organized by the Council of Saudi Chambers, the Ministry of Investment, and SMBDA.

The meeting heard the possibilities of cooperation between the business circles of Saudi Arabia and Azerbaijan in the field of trade and investment, the purpose of establishing the council, and the visit of the Azerbaijani delegation of businessmen of SMBDA to Saudi Arabia.

Within the framework of the event, SMBDA and AZPROMO made presentations about business and investment opportunities of Azerbaijan, export potential, support and services provided to local and foreign businessmen, as well as prospects of cooperation in the field of business and trade by Azerbaijani businessmen.

The Ministry of Investment and Export Development Authority of Saudi Arabia held presentations on the investment potential of this country, the opportunities created for businessmen, and the products and services produced.

In the "B2B" meetings organized after the event, issues such as the exchange of information and experience, opportunities for cooperation, the organization of joint events and meetings, and mutual business missions were discussed between the SMEs of both countries.

We should note that the Azerbaijan-Saudi Arabia Joint Business Council was established in December 2022 based on the Agreement signed between SMBDA and the Council of Saudi Chambers. The Azerbaijan-Saudi Arabia Joint Business Council, represented by business representatives from both countries, will support entrepreneurs' initiatives, help establish direct relations between them, organize mutual visits, meetings, and various events, and exchange information between businessmen.