BAKU, Azerbaijan, November 13. Uzbekistan is considering opportunities for cooperation with Azerbaijan in the field of small and medium-sized enterprises (SMEs), the Director of the Department for Analysis, Support, and Coordination of State Policy on the Development of Small and Medium-Sized Businesses at the Ministry of Economy and Finance of Uzbekistan, Timur Khusanov, said, Trend reports.
He made the remark on the sidelines of a seminar dedicated to the presentation of the Asian Development Bank (ADB) “Monitoring Small and Medium Enterprises in Asia 2025” (ASM 2025) in Baku.
Khusanov noted that Uzbekistan, with the support of the ADB, international financial institutions, and organizations, has developed a Strategy for the Development of SMEs until 2030.
“The ADB provided us with direct assistance, and during this work, several large round tables were held with the participation of representatives of the ADB, the World Bank, international financial institutions represented in the republic, as well as various development organizations,” Khusanov said.
According to him, one of the priorities of the Strategy is to reach foreign markets.
"This process is usually bilateral. In this context, Azerbaijan is a brotherly country with a similar mentality and long-standing economic ties. Therefore, we consider it important to develop cooperation in this area. The Strategy provides for the development of SMEs within the country, as well as support measures for fast-growing businesses to reach foreign markets," he added.