Riyadh: The Small and Medium Enterprises General Authority (Monsha'at) has signed a memorandum of understanding with Azerbaijan's Small and Medium Business Development Agency (KOBIA) to strengthen economic, trade, and investment cooperation in the SME sector. This collaboration aims to enhance the competitiveness of SMEs in the global market.
According to Saudi Press Agency, the signing ceremony was attended by Minister of Investment Khalid Al-Falih, Monsha'at Governor Sami bin Ibrahim Al-Hussaini, and KOBIA Chairman Orkhan Mammadov. The event coincided with the Saudi-Azerbaijani Committee meetings, highlighting the importance of bilateral relations.
The memorandum focuses on exchanging knowledge and expertise to improve institutional infrastructure and develop SMEs. It also includes organizing business visits to bolster trade relations between SMEs in both countries, providing information on business opportunities, and supporting training and educational programs related to the sector.