A Memorandum of Understanding (MoU) between the Small and Medium Business Development Agency (SMBDA) of Azerbaijan and the Entrepreneurship Development Agency under the Ministry of Economic Development and Poverty Reduction of Uzbekistan was signed in Tashkent within the 1st Azerbaijan-Uzbekistan Interregional Forum, Azernews reports.

The document was signed by Chairman of the SMBDA Board Orkhan Mammadov and Deputy Director of Uzbekistan's Agency for Entrepreneurship Development Mukhtor Shonazarov. The memorandum provides for cooperation in small and medium-sized business, women's entrepreneurship, public-private partnerships, the exchange of information and experience in promoting entrepreneurship, protection of legitimate interests of business entities, organization of joint training sessions, seminars and conferences, as well as collaboration in other areas.

While delivering a speech at the 3rd meeting of the Uzbekistan-Azerbaijan Business Council, held as part of the forum, Mammadov outlined the positive dynamics in the development of bilateral relations between our countries.

He stressed that this creates an opportunity to expand partnership between business circles of the two countries.

The chairman updated on the exchange of experience in facilitating entrepreneurship, organization of mutual business missions, and other joint events to expand business contact network, as well as on the support and services provided to entrepreneurs by the Agency.

The relevant meeting, organized by the National Confederation of Entrepreneurs' (Employers') Organizations of Azerbaijan and the Uzbek Chamber of Commerce and Industry, was attended by officials and businessmen from both countries.