EU4Business is launching a new, three-year project to make SMEs more competitive in Azerbaijan.
‘Ready to Trade’ is launched on 5 July in Baku. The project will help companies target and access foreign markets, with a special focus on the EU.
The initiative is a collaboration between the Azerbaijan Government, the EU Delegation in Azerbaijan and the International Trade Centre (ITC), the latter a joint agency of the World Trade Organization and United Nations.
Similar projects have been set up in the other Eastern Partnership countries covered by EU4Business.
Producing value-added goods
The project will:
- help SMEs produce value-added goods that meet international and EU market requirements
- connect producers in international markets, and
- aid local business support organisations in improving services to SMEs.
The first six months of the project will be dedicated to:
- selecting priority sectors of the economy
- tailoring activities to evolving economic conditions in the country
- consulting with SMEs, and
- examining companies’ internal processes (value-chain analysis).
More diverse economy needed
Azerbaijan is currently highly dependent on oil and gas, a sector which accounts for more than 87% of exports.
Diversification of the export sector, and the development of a new export strategy, are top priorities for the government.
SMEs account for just over 5% of total exports, a percentage that would increase if companies focused more on international markets.
Event date
5 July 2017