site.btaCabinet Approves Draft MoU between InvestBulgaria Agency, Azeri Small and Medium Business Development Agency

The Council of Ministers has adopted a decision approving a draft Memorandum of Understanding between the InvestBulgaria Agency (IBA) and Azerbaijan's Small and Medium Business Development Agency, Cabinet's press service reported here on Wednesday.

The Memorandum will support the development of bilateral economic cooperation between Bulgaria and Azerbaijan. Recognizing the strategic importance of development for enhanced cooperation in the field of investment and trade promotion for enhancing employment, economic and social stability, the two sides agree to assist investors from their respective countries to establish and maintain various forms of cooperation.

The Memorandum envisages that the IBA and the Small and Medium Business Development Agency of Azerbaijan will be partners in the field of investment attraction and implementation of new investment projects, providing real opportunities for expanding business contacts between potential investors from Bulgaria and Azerbaijan. The two sides will exchange information related to investment opportunities and provide it to each other in order to implement various initiatives in the two countries.