ECONOMY


Caspian European Club holds business forum with Small and Medium Business Development Agency

Baku, March 6, AZERTAC

Initiatives and proposals on issues concerning business development prospects in Azerbaijan were discussed at the business forum organized by the Caspian European Club in Baku. The event was held with the participation of the Chairman of the Board of the Small and Medium Business Development Agency (SMBDA) of the Republic of Azerbaijan Orkhan Mammadov.

Addressing the business forum at the Holiday Inn hotel, Orkhan Mammadov answered the questions that were of interest to the participants, elaborated on the projects which are being implemented in the country on a commission from the President of the Republic of Azerbaijan. He noted the “SME Friends” network created to ensure an easy access of entrepreneurs towards the public services. There are 12 SME Friends operating at present. The first Small and Medium Business House will be opened this year in Baku.

According to Orkhan Mammadov, one of the main lines of activity of the Agency is to improve the relevant legal framework and secure interests of Small and Medium Entrepreneurship. SMBDA has already prepared a draft law “On small and medium entrepreneurship development”. Changes envisaging new privileges for small and medium entrepreneurship have been made into the Tax Code. Besides, new criteria for determining small and medium-sized business entities have been approved. Procedures of joining to public services have been simplified. Progressive changes have been made into the legislation about public purchases.

The event was followed by presentations made by the First Deputy Chairman of the Board of the Small and Medium Business Development Agency Natig Hasanov, Chairperson of the Board of the Women Entrepreneurs Association Sakina Babayeva and Deputy Chairman of the Baku Textile Factory LLC Elchin Babayev. Other speakers at the event included members of the board of the Caspian European Club, founder of the Times Consulting Company Elgar Bagirov and President of Cahan Holding Vugar Abbasov.

First Deputy Chairman and Chief Executive Officer of the Caspian European Club Telman Aliyev thanked Orkhan Mammadov for a constructive dialogue, as well as for attention to suggestions and requests made by the Club’s member companies in the course of the event. Orkhan Mammadov was presented an honorary membership certificate of the Caspian European Club. New and existing member companies of the Caspian European Club also received certificates.

Cahan Holdinq and the Caspian European Club signed a memorandum of cooperation within the framework of the forum.

Over 150 executives and representatives of public and private companies, diplomatic agencies and international organizations took part in the business forum.

Times Consulting Company is a general sponsor of the business forum.

The Caspian European Club, which brings together more than 5,000 member companies and organizations from 70 countries around the world, was established in June 2002 with the support of the largest oil and gas companies working in the Caspian-Black Sea region and with the active involvement of the Caspian Energy International Media Group.

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