Azerbaijan, Türkiye boost business ties with new insurance agreement

The Azerbaijan Insurers Association (ASA) and the Azerbaijan-Türkiye Business Association (ATIB) have signed a memorandum of cooperation aimed at expanding collaboration in the field of business insurance.

The agreement was concluded during a meeting between ASA Executive Director Elmar Mirsalayev and ATIB Chairman Mursal Rustamov, Caliber.Az reports, citing ASA. 

Under the memorandum, the two organisations will work together to improve insurance literacy among entrepreneurs and increase access to insurance services for businesses across Azerbaijan.

“This cooperation marks a strategic step toward strengthening the role of insurance in the business community and ensuring broader coverage for enterprises,” ASA notes. 

Founded in 2006, the Azerbaijan Insurers Association (ASA) is a non-profit organisation that unites insurance companies operating within Azerbaijan. Its mission is to promote the development of the national insurance market, advocate for the interests of its members, and increase public awareness about the role and importance of insurance. ASA also collaborates with state bodies, international organisations, and industry stakeholders to improve regulatory frameworks and encourage best practices across the sector. 

The Azerbaijan-Türkiye Business Association (ATIB) is a prominent public organisation established in April 2004. ATIB serves as a vital platform for over 90 Turkish and Azerbaijani companies operating in Azerbaijan, fostering economic collaboration between the two nations. ATIB's mission is to enhance entrepreneurship and strengthen social, cultural, and economic ties between Azerbaijan and Türkiye. 

By Naila Huseynova