Azerbaijan increasing competitiveness of SMEs, KOBIA chief says

Azerbaijan is increasing the competitiveness of small and medium-sized businesses (SMEs).

Report informs that Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency (KOBIA) under Azerbaijan's Ministry of Economy, said this during the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group in Baku.

According to him, supporting SMEs, which account for about 99.7% of businesses in Azerbaijan, and facilitating their access to regional and international markets are among the country's key priorities.

"Our country is located at the crossroads of important trade routes connecting East and West, as well as North and South, and this position creates broad opportunities for trade, investment and business cooperation. Through the reforms and support programs being implemented, consistent work is being carried out to strengthen entrepreneurship, increase exports, promote innovation and ensure SMEs' access to foreign markets," he said.

Mammadov noted that KOBIA, Azerbaijan's SME support agency, helps enterprises become more competitive, adopt digital solutions and gain access to new market opportunities.

He added that the formation of stronger supply chains also requires broader cross-border communication and cooperation.

"Through joint efforts, trade barriers can be reduced, ties can be strengthened and more favorable opportunities can be created for SMEs to grow and succeed," Mammadov said.