USAID and the Small and Medium Business Development Agency Sign Memorandum of Understanding

BAKU - The United States Agency for International Development (USAID) Mission in Azerbaijan and the Azerbaijan Small and Medium Business Development Agency (SMBDA) signed a Memorandum of Understanding today to support development of the business environment for small and medium enterprises (SMEs). By working together, USAID and SMBDA will support reforms that promote a more competitive and favorable business environment, allowing local SMEs to increase yields, quality, and diversify their sales markets, leading to higher incomes and resiliency from economic crises like the COVID-19 pandemic. 

USAID and SMBDA will partner to increase the capacity, productivity, and competitiveness of SMEs in Azerbaijan, with a focus on increasing exports. They will work together to identify barriers faced by new Azerbaijani SMEs, and recommend policy reforms that will spur growth and expansion. The partnership will make it easier for SMEs in rural areas to transport their agricultural goods to the wholesale and retail chains, and access markets in larger cities. Finally, the partnership will promote U.S.-Azerbaijani business linkages and introduce new U.S. business technologies to Azerbaijan.  

U.S. Ambassador to Azerbaijan Lee Litzenberger said, “We see business partnerships and linkages between U.S. and Azerbaijani companies as critical in our deepening friendship and economic growth. I hope that this MOU will lead to business partnerships that will allow us to prosper together.”

“The Agency deems important to study best practices and partner with different organizations working in this area in order to support the development of local SMEs. We believe that the memorandum of understanding with USAID will support business partnerships, improve support and services provided to SMEs, and contribute to their growth", said Chairman of SMBDA Orkhan Mammadov.  

USAID Mission Director for Azerbaijan Dr. Jay Singh said, “USAID deems small and medium-sized enterprises essential for alleviating poverty through inclusive and sustainable economic growth. We therefore consider the SMBD Agency, which is dedicated to the mission of supporting SMEs and improving the business environment for them, to be a great resource for Azerbaijan’s economic evelopment and diversification, and we are thrilled to deepen our partnership with them.”