Azerbaijan, Ukraine mull expansion of co-op in SMBs

By Azernews

By Ayya Lmahamad

Azerbaijani and Ukrainian business officials have discussed the current and future prospects for expanding bilateral cooperation.

As part of his visit to Ukraine, the chairman of Azerbaijan's Small and Medium Business Development Agency Board, Orkhan Mammadov, held various meetings with Ukrainian officials.

During the meeting with Ukrainian Chamber of Commerce and Industry President Gennadiy Ghyzhykov, the parties discussed the expanding cooperation between SMBs of the two countries and the organization of joint events for the development of trade relations.

The favorable investment climate in the country and Agency's support for local and foreign investors were discussed during the meeting with Ukraine's Investment Attraction Office Director-General Sergiy Tsivkach. The parties also discussed the services the Agency can provide to Ukrainian investors and exchanged views on cooperation.

Moreover, during the meeting with Ukraine's Office of Entrepreneurship and Export Promotion Acting Director Andrii Remizov, the sides discussed possible opportunities for cooperation in the SMBs sector, implementation of joint projects, and exchange of experience.

Mammadov briefed on the development of SMBs in Azerbaijan and state support rendered to them. He emphasized that the study of foreign experience in the sphere of rendering services to SMBs is the focus of the Agency's attention. 

The parties also discussed the activities of the two agencies and the support and services provided to entrepreneurs.

Moreover, Mammadov held a meeting with Ukraine's Economy Deputy Minister Alexander Griban. During the meeting, they discussed joint cooperation, support, and services provided to SMBs to expand ties between the entrepreneurs of the two countries.

Azerbaijan and Ukraine are cooperating in different spheres of the economy. Ukraine was Azerbaijan's second-largest trade partner among the CIS countries with a trade turnover amounting to $771.5 million in 2020. In addition, the trade turnover between the two countries amounted to $866.4 million in January-November 2021, with exports accounting for $446.9 million and imports for $419.4 million.

Additionally, Ukraine was among the countries to voice support to Azerbaijan over its just position and its territorial integrity during the 44-day Second Karabakh War with Armenia in 2020. Ukrainian companies expressed their interest in reconstructing Azerbaijan’s liberated territories.