Zangazur corridor to create new opportunities to expand co-op with EU - Azerbaijan's SMBDA
Date
2/22/2022 5:35:24 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, Feb. 22
By Sadraddin Aghjayev - Trend:
Opening of the Zangazur corridor will create additional
opportunities for expanding cooperation with EU countries and
economic integration in the region, Board Chairman of Azerbaijani
Small and Medium Business Development Agency (SMBDA) Orkhan
Mammadov said, Trend reports.
Mammadov made the remark at a conference on the topic of
“Support to Azerbaijani government in creating a more favorable
environment for small and medium-sized enterprises and increasing
their competitiveness”.
According to him, this is especially important in the
post-COVID-19 pandemic period, when economic recovery and
sustainable growth are expected.
'The trade turnover between Azerbaijan and European countries in
2020 amounted to $9.5 billion, or 40 percent of the total trade
turnover of our country. Azerbaijan imported products worth $6.8
billion from Europe. Besides, 1,700 European companies operate in
Azerbaijan,' the chairman further said.
He noted that after the liberation of its territories from the
Armenian occupation [in the 2020 Second Karabakh War], Azerbaijan
created new opportunities for expanding cooperation.
Besides, according to Mammadov, Azerbaijan's GDP in 2021
increased by 5.6 percent compared to 2020.
'Additional value during this period in the non-oil industry
increased by 7.2 percent, and in the oil industry - by 1.8
percent,' the chairman also noted.
He stressed that Azerbaijan's small and medium-sized businesses
received ample opportunities for sustainable development.
'Our agency has a wide range of tools to support small and
medium businesses,' added Mammadov.
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