By Azernews

By Ayya Lmahamad

The Agency for Small and Medium Business Development can support Czech entrepreneurs who want to invest or open businesses in Azerbaijan, Azernews reports.

The remarks were made during a meeting between representatives of the agency and a delegation headed by the Czech Republic's Director of the Foreign Economic Policy Department under the Industry and Trade Ministry.

During the meeting, the parties expressed mutual interest in establishing strong and long-term relations between the business entities of the two countries. They discussed issues on the organization of business missions, cooperation with local SMBs interested in creating joint ventures, and expanding ties with the relevant Czech organizations.

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.

Azerbaijan and the Czech Republic cooperate in different spheres of the economy. Around 30 companies with the Czech capital operating in Azerbaijan. The Czech Republic had invested $37.2 million in Azerbaijan, while Azerbaijan’s investment in the Czech Republic amounted to $48.2 million during the period from 1995 to 2021.

Incidentally, the trade turnover between Azerbaijan and the Czech Republic amounted to $307.4 million in 2021.