The agreement aims to foster stronger economic ties and support SME cooperation between Serbia and Azerbaijan

BELGRADE, October 23, 2025 – The document on further development of cooperation between the two agencies was signed by Nikola Janković, Director of the International Cooperation Sector at the Development Agency of Serbia, and Orkhan Mammadov, Chairman of the Small and Medium Business Development Agency of the Republic of Azerbaijan (KOBİA).

The signing took place following the 9th Session of the Intergovernmental Commission on Trade and Economic Cooperation between the Republic of Serbia and the Republic of Azerbaijan, co-chaired by Serbian Minister of Culture Nikola Selaković and Azerbaijani Minister of Finance Sahil Babayev. Two important documents were signed during the session, marking a new chapter in economic cooperation between the two countries.

Ministers Selaković and Babayev, confirming the continuity and further development of cooperation in areas such as trade, energy, industry, infrastructure, agriculture, and culture, signed the first document - the Protocol from the 9th Session of the Commission.

The second document, signed by representatives of the Development Agency of Serbia and the Small and Medium Business Development Agency of Azerbaijan, aims to strengthen institutional ties and support the development of small and medium-sized enterprises (SMEs) through the exchange of knowledge and experience, as well as the promotion of investment opportunities between the two countries.

This agreement will further enhance cooperation between Serbian and Azerbaijani companies, create better conditions for joint projects, and help small and medium-sized enterprises (SMEs) become more engaged in international business.

Minister Selaković emphasized that the session was very successful, noting that relations between Serbia and Azerbaijan are characterized by friendship, close cooperation, and strategic partnership. He recalled that trade between the two countries has multiplied over the past decade, with the energy sector standing out as an area with great potential for further cooperation.

For the Development Agency of Serbia, the signed document represents another important step in implementing its policy of international cooperation and supporting Serbian SMEs in accessing new markets and partnerships.

Cooperation with the Small and Medium Business Development Agency of Azerbaijan opens up new opportunities for domestic entrepreneurs, especially in the fields of innovation, industry, and energy. The signed agreement contributes to strengthening economic ties and lays the foundation for joint projects of mutual interest.

The signing of this document reaffirms that institutional cooperation between the Development Agency of Serbia and international partners is an important mechanism for enhancing economic diplomacy and promoting Serbia as a reliable partner in the region and beyond.

PHOTO: TANJUG/JADRANKA ILIĆ