Kazakhstan and Azerbaijan Are Evolving Cooperation in the field of SME Development

The Deputy Chairman of the Board of “Baiterek” National Managing Holding” JSC Galymzhan Tajiyakov has held a meeting with the Chairman of the Board of Azerbaijan’s Agency for Development of Small and Medium-Sized Enterprises (KOBIA) Orhan Vidadi oglu Mammadov.

During the meeting, Galymzhan Tajiyakov spoke about the activities of Baiterek Holding and the measures for supporting small and medium-sized businesses that are being implemented by Damu Entrepreneurship Development Fund JSC.

- The economic cooperation between Kazakhstan and Azerbaijan is of strategic nature, due to which the Holding fully supports the development of its subsidiaries’ relations with Azerbaijani partners, - he stressed out.

In his turn, Orhan Mammadov noted that currently the cooperation between Damu Fund and KOBIA Agency is being actively developed. Thus, on May 4, 2019, the two companies are planning to sign a Memorandum of Understanding and the Roadmap within the framework of “ULTTYQ O`NIM” exhibition of Kazakhstani manufacturers.

- These documents will allow implementing specific activities in the next two years, - the Head of the Agency believes.

In conclusion, the meeting participants agreed to continue cooperation aiming at the development of entrepreneurship in the two countries.

Reference:

“Damu” Entrepreneurship Development Fund JSC was established based on the Decree of the Government of the Republic of Kazakhstan dated April 26, 1997. The mission of the Fund is an active role in the sustainable development of micro, small and medium-sized businesses in Kazakhstan through the implementation of comprehensive and effective support tools. Branches of Damu Fund function in all the regions of Kazakhstan, having considerable experience of collaboration with local entrepreneurs, public organizations and local executive authorities.

KOBIA is a public agency for the development of small and medium-sized businesses established by the Decree of the President of Azerbaijan in 2017. The agency is engaged in the support and protection of entrepreneurs, stimulates the establishment of small and medium-sized enterprises.