Baku: A new agency has been established in Azerbaijan to enhance the management of micro, small, and medium-sized business development, as well as to promote investment and exports. This development comes following the signing of a Decree by the President of the Republic of Azerbaijan.

According to Azeri-Press News Agency, the Decree led to the creation of the Small and Medium Business Development, Investment and Export Promotion Agency of the Republic of Azerbaijan. This agency is formed under the Ministry of Economy and is based on the merger of two existing entities: the Small and Medium Business Development Agency of the Republic of Azerbaijan and the Azerbaijan Export and Investment Promotion Agency, known as AZPROMO. Both entities were public legal entities under the Ministry of Economy of the Republic of Azerbaijan.

The establishment of this new agency is aimed at regulating certain issues related to business development and export promotion, thereby potentially offering improved opportunities for businesses within the country.