On May 16, the National Agency of Investment and Privatization and The Small and Medium Business Development Agency of the Republic of Azerbaijan (KOBIA) have signed a memorandum of understanding.


It was signed among other international documents following the official talks between Belarusian President Aleksandr Lukashenko and Azerbaijan President Ilham Aliyev in Baku.

The Small and Medium Business Development Agency of the Republic of Azerbaijan (KOBIA) is authorized to support the development of small and medium businesses (SMBs) in the Azerbaijan by providing SMBs with a number of services as well as ensuring coordination and regulation of services rendered by government entities to SMBs.

On the eve of the signing, the NAIP delegation visited the KOBIA office and studied the work of “one station for business”, which is organized on the premises of the KOBIA. NAIP Director Dzmitry Krasoŭsky and Chairman of the Management Board of KOBIA Orkhan Mammadov discussed further steps to develop mutually beneficial interaction.


“The Memorandum of understanding is the formal beginning of our cooperation. And we discussed how and in what time frame we will fill it with specific events and mutually beneficial projects,” noted Dzmitry Krasoŭsky.

The NAIP delegation also took part in the international exhibitions Inter Food Azerbaijan 2024 and Caspian Agro 2024 in Baku. On the sidelines of the exhibitions, direct negotiations were held with more than 40 companies from 7 countries potentially interested in investing in Belarus.