Azerbaijan, Serbia sign roadmap to boost business cooperation

Azerbaijan’s Small and Medium Business Development Agency (KOBIA) and the Serbian Development Agency have signed a Roadmap to advance collaborative activities under their existing Memorandum of Understanding.

The signing took place during the 9th meeting of the Intergovernmental Commission on Trade and Economic Cooperation between Azerbaijan and Serbia, according to the Finance Ministry of Azerbaijan, Caliber.Az reports per local media.

The Roadmap was officially signed by Orkhan Mammadov, Chairman of the Board of KOBIA, and Nikola Jankovic, Director of the International Cooperation Department of the Serbian Development Agency.

At the meeting, it was highlighted that nine Serbian companies are currently operating in Azerbaijan, while Azerbaijan’s leading construction firms are successfully engaged in major highway projects in Serbia.

Sahil Babayev, Finance Minister of Azerbaijan and co-chair of the Commission, emphasised the strong business opportunities within Azerbaijan. He specifically pointed to the Alat Free Economic Zone and the new transport and logistics infrastructure developed as part of the Middle Corridor project, which links Asia and Europe, as significant advantages for investors.

Minister Babayev encouraged Serbian companies to actively engage in new projects underway in Azerbaijan and urged Azerbaijani companies to expand their cooperation efforts in Serbia and across the broader Balkan region.

By Sabina Mammadli