By Aytaj Shiraliyeva

Copyright trend

BAKU, Azerbaijan, October 8. The founding
ceremony and first meeting of the Organization of Islamic
Cooperation’s Network of Small and Medium-sized Enterprises took
place in Baku as part of the Halal Business Forum, Trend reports.

The event was attended by representatives of organizations and
institutions from OIC member countries that provide support and
services to SMEs.

The goal of creating the network is to strengthen cooperation
between institutions supporting SMEs within the OIC framework.

During the forum’s first panel session, dedicated to the
establishment of the OIC SME Network, representatives of relevant
bodies from OIC member states shared their experiences in
supporting and servicing SMEs and discussed prospects for
collaboration.

The meeting participants included representatives from Türkiye
(KOSGEB), Saudi Arabia (MONSHAAT), Morocco (Morocco PME), as well
as Jordan, Pakistan, Kyrgyzstan, Chad, and Côte d’Ivoire.

During the panel, representatives of Azerbaijan’s Small and
Medium Business Development Agency (KOBIA) provided information on
support and services for SMEs in Azerbaijan, as well as on the
national SME ecosystem.

The speakers emphasized that SMEs are a driving force of the
global economy, representing a significant share in both economic
output and employment.

The event noted that in OIC countries, 99.9 percent of companies
are SMEs, accounting for over 93 percent of employment and about 85
percent of added value.

Following the inaugural meeting of the OIC SME Network, the Baku
Declaration was adopted, expressing gratitude to Azerbaijan for
hosting the network’s first meeting and for its ongoing support of
regional cooperation in SME development.

In addition, by unanimous decision of the participants, the
chairmanship of the SME Network of the OIC was transferred to KOBÄ°A
for a period of three years, and the functions of the secretariat
will be performed by the Statistical, Economic and Social Research
and Training Centre for Islamic Countries (SESRIC).

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