KOBIA, Russian Export Center to sign memo

A memorandum of understanding between KOBIA and the Russian Export Center will be signed within the framework of the meeting of the business mission of Russian companies in the development of urban infrastructure - "Smart City," which is taking place in Baku today.

Chairman of the Board of the Azerbaijan Small and Medium Business Development Agency (KOBIA) Orkhan Mammadov said that the memorandum aims to develop and intensify cooperation between Russian and Azerbaijani entrepreneurs in the field of small and medium-sized businesses.

"Thanks to the work done, a cooperation platform will be developed for information and marketing support for SMEs, support for export-oriented enterprises, as well as preparation and further implementation of potential joint projects.

"Within the framework of bilateral business cooperation, the Agency is interested in attracting foreign investors to Azerbaijan, in connection with which we are ready to provide them with appropriate support. Russian businesspeople can also enjoy the services of our SME Development Centers to conduct training, incubation programs and provide advice to SMEs.

"Entrepreneurs can also go through all the necessary stages for organizing business activities in Azerbaijani SME Houses, which provide G2B and B2B services to SMEs in a single space based on the "one-stop-shop" principle.

"The Agency also provides financial support to entrepreneurs in local market research, necessary for a successful business.

"About other financial mechanisms of the Agency, I would like to note the provision of grants for implementing scientific, educational, and research projects in the development of the SME sector in Azerbaijan.

"The Agency can also assist Russian entrepreneurs in identifying local business partners. In this direction, I would like to note the 'Friends of SMEs' network, which operates in more than 25 regions and cities of Azerbaijan," Mammadov said.