Azerbaijan, Vietnam sign cooperation agreements to boost SME collaboration

Azerbaijan’s Small and Medium Business Development Agency (KOBİA) signed multiple cooperation documents during a visit to Vietnam, facilitated by the Azerbaijani Embassy.

The visit aimed to enhance collaboration between small and medium-sized enterprises (SMEs) from both countries and to establish ties with specialized organizations, Report informs.

During the visit, KOBİA representatives and a group of Azerbaijani businessmen explored opportunities for cooperation in Hanoi. A key outcome was the signing of a cooperation document between KOBİA and the International Business Connections Club of Vietnam, which outlines measures to foster joint initiatives and strengthen business relations between the two nations.

The delegation also participated in the Global Business and Investment Forum, organized by the Vietnam National Association of Entrepreneurship (VINEN). A Memorandum of Understanding (MoU) was signed between KOBİA and VINEN on the sidelines of the event. The MoU focuses on expanding economic, trade, and investment cooperation between SMEs, as well as exchanging information and experience in SME development.

In addition, the forum saw the signing of Protocols of Intentions on cooperation in the import and export of food and cosmetic products and co-production ventures. These agreements aim to enhance bilateral trade and foster collaborative production efforts.