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Event held in Istanbul on the theme "Union of power with friendly diasporas" 16.09.23

At the "Union of power with friendly diasporas" event, the chairman of KOBİA talked about the support of diasporas to the development of economic relations between countries.

The 10th Congress of the World Turkish Business Council was held in Istanbul.

As part of the two-day event, a panel discussion on "Union of power with friendly diasporas" was organized.

At the event, Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency (KOBİA) delivered information on the support for the development of economic relations of diasporas and the activities of the Agency. It was reported that the relations between the Turkish states have strengthened in recent years and the diaspora takes a significant role in the development of cooperation. Diasporas also helps countries attract foreign investment into their economies, engage private enterprise, and expand trade relations. KOBİA cooperates with relevant institutions of member and observer states of the Organization of Turkic States, as well as institutions operating in Azerbaijan and brings together hundreds of businesspersons to its ranks. The Agency is willing to provide assistance in finding local business partners, coordination and other directions to foreign businesspersons operating in Azerbaijan or seeking to start a business.

Pointing out to the restoration and reconstruction efforts taking place in Karabakh, the chairman of KOBİA also spoke about the opportunities of the diasporas of friendly countries to actively participate in this process. It was noted that the liberated territories of Azerbaijan have a rich economic and investment potential and favourable conditions are being created for implementing business projects and attracting investments in these territories. To date, over half of the applications received by KOBİA from abroad to this end belong to the member and observer countries of the Organization of Turkic States. These include Türkiye, Kazakhstan, Uzbekistan, Turkmenistan and Hungary. The projects involved mainly include sectors such as trade, service, construction, industry, agriculture, culture, education, transport, logistics and other fields. The chairman of KOBİA also called on entrepreneurs from friendly countries to invest in in our liberated territories and participate more actively in regional revitalization.