Within the framework of the Azerbaijan Halal Business (AZHAB) Forum, the inauguration ceremony and first meeting of the Organization of Islamic Cooperation (OIC) SME Network were held.
The founding meeting and first session of the OIC SME Network took place in Baku as part of the AZHAB Forum.
Representatives of institutions and relevant bodies from OIC member states that provide support and services to small and medium enterprises (SMEs) participated in the event.
The establishment of the network aims to strengthen cooperation among institutions supporting SMEs within the framework of the Organization of Islamic Cooperation (OIC).
During the first panel session of the AZHAB Forum dedicated to the establishment of the OIC SME Network, representatives of OIC member countries’ SME-related organizations delivered speeches, sharing their experiences and collaboration opportunities in supporting and servicing SMEs in their respective countries. The panel was attended by representatives of KOSGEB (Turkiye), MONSHAAT (Saudi Arabia), Morocco PME (Morocco), as well as relevant institutions from Jordan, Pakistan, Kyrgyzstan, Chad, and Côte d’Ivoire. The Small and Medium Business Development Agency (KOBIA) presented information on SME support and services in Azerbaijan and provided an overview of the country’s SME ecosystem.
Speakers at the session emphasized that SMEs are the driving force of economies worldwide, holding a significant share in both employment and economic activity. It was noted that in OIC member states, SMEs account for 99.9% of enterprises, contribute to over 93% of employment, and generate nearly 85% of added value.
At the conclusion of the founding assembly of the OIC SME Network, the Baku Declaration was adopted. The declaration expressed gratitude to Azerbaijan for hosting the inaugural meeting of the organization and for its consistent support in advancing regional cooperation in the development of small and medium entrepreneurship.
Additionally, within the framework of the founding meeting, it was unanimously decided that KOBIA would assume the chairmanship of the OIC SME Network for a three-year term. The Statistical, Economic, and Social Research and Training Centre for Islamic Countries (SESRIC) will serve as the Secretariat of the Network.
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