17:50 - 8.07.2021

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July 8, Fineko/abc.az. The Agency for the Development of Small & Medium-Sized Businesses of Azerbaijan (KOBIA) and the US Agency for International Development (USAID) have signed the Memorandum of Understanding in connection with cooperation in the field of small and medium-sized enterprises (SMEs).

The document was signed by KOBIA chairman of board Orhan Mammadov and USAID mission director on Azerbaijan Jaidev Singh. The signing ceremony was attended by US Ambassador to Azerbaijan Lee Litzenberger.

According to the document, KOBIA and USAID will implement joint initiatives on the creation of more favorable and competitive business environment, support measures that allow local SMEs to increase productivity, income and quality, diversify sales markets, and strengthen resilience to crisis situations such as the COVID-19 pandemic. Within the framework of joint cooperation, both agencies will also focus on the competitiveness of micro, small and medium-sized entrepreneurs working in Azerbaijan, strengthening the potential of business associations, and introducing innovative business technologies into Azerbaijan.