Baku: The founding meeting and first session of the SME Network of the Organization of Islamic Cooperation (OIC) were held in Baku within the framework of the Azerbaijan Halal Business (AZHAB) Forum. The event brought together representatives of organizations and relevant institutions from OIC member states providing support and services to small and medium-sized enterprises (SMEs). The newly established network aims to enhance cooperation among institutions supporting SMEs within the OIC framework.
According to Azerbaijan State News Agency, at the first panel session of the AZHAB Forum, dedicated to the establishment of the OIC SME Network, representatives of SME-related organizations from member countries shared their national experiences in SME development and discussed potential areas of collaboration. Trkiye was represented by KOSGEB, Saudi Arabia by Monshaat, and Morocco by Maroc PME, along with participants from Jordan, Pakistan, Kyrgyzstan, Chad, and C´te d’Ivoire. The panel also showcased Azerbaijan’s SME support mechanisms and provided an overview of the country’s SME ecosystem.
It was noted that SMEs account for 99.9 percent of all enterprises in OIC countries, employ over 93 percent of the workforce, and contribute nearly 85 percent of value added. At the conclusion of the founding meeting, participants adopted the Baku Declaration, expressing gratitude to Azerbaijan for hosting the inaugural session and for its continued support for regional cooperation in the SME sector.
By unanimous decision of the member organizations, the chairmanship of the OIC SME Network was assigned to Azerbaijan’s Small and Medium Business Development Agency (KOBIA) for a three-year term. The Secretariat of the Network will be hosted by the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC).