Azernews.Az

By Ayya Lmahamad

Azerbaijan’s Agency for Small and Medium Business Development has signed a memorandum of understanding on cooperation with the Organization of Islamic Cooperation Youth Forum (ICYF), the agency’s press service reported on May 25.

The signing of the memorandum took place during the meeting between the Agency’s Chairman Orkhan Mammadov and ICYF’s President Taha Ayhan.

During the meeting, the parties expressed satisfaction with the development of cooperation between the two agencies and discussed the opportunities to further expand the ties.

The Small and Medium Business Development Agency of the Republic of Azerbaijan was established under the Azerbaijani presidential decree dated December 28, 2017.

As a legal entity under the Ministry of Economy, the agency is authorized to support the development of small and medium businesses (SMBs) in the country by providing SMBs with a number of services as well as ensuring coordination and regulation of services rendered by government entities to SMBs.

The Islamic Cooperation Youth Forum is an international, non-commercial, non-partisan organization uniting leading umbrella youth organizations from the Member-States of the Organization of Islamic-Cooperation as well as international youth organizations, operating in the OIC region and youth organizations representing significant Muslim minorities worldwide.

The Forum was established in Baku, Azerbaijan on December 2004, and granted with the status of an affiliated institution to the OIC.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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