A meeting was held between the Azerbaijan Entrepreneurs Confederation and the Malaysian International Chamber of Commerce and Industry

A virtual meeting between the Confederation of Entrepreneurs of Azerbaijan (AEC) and the Malaysian International Chamber of Commerce and Industry (MICCI) was held on January 18 at the initiative of the Embassy of the Republic Azerbaijan in Malaysia.

ASK representatives were led by the president Mammad Musayev, and MICCI representatives were led by the executive director Shaun Cheh.

Welcoming the participants of the meeting, the head of the Confederation M.Musayev expressed satisfaction with the ongoing high-level bilateral relations between Azerbaijan and Malaysia, emphasizing the importance of developing relations between the two countries in the field of economic and trade cooperation. He said that the trade turnover between the two countries in 2020 amounted to $ 129 million. The potential for increasing mutual cooperation in the future may allow to increase this indicator even more.

M.Musayev spoke about the large-scale reconstruction work carried out in our liberated lands after the Patriotic War in 2020, informed about investment projects implemented here, and the favorable business environment created for foreign investors. He noted that the participation of experienced companies and investors from friendly Malaysia in these projects is desirable. He said the ASK was ready to provide necessary support to Malaysian organizations and individuals in this area.

The event featured a presentation on the activities of the Azerbaijan Confederation of Entrepreneurs and the organization’s contribution to the development of entrepreneurship in Azerbaijan. It was noted that the organization unites more than 6,000 members, including about 70 economic, social associations and unions under one umbrella. The ASK is also active in protecting the economic and legal interests of entrepreneurs.

MICCI Executive Director Sh.Cheh expressed satisfaction with the organization of such a meeting, emphasizing that his organization is interested in developing cooperation with Azerbaijan. He said the stable economic environment in Azerbaijan is quite attractive for Malaysian investors. He noted that MICCI’s institutional practice began in 1837, and in 1974 the organization entered a new phase in its current structure. He noted that in addition to the success of MICCI in Malaysia, it has extensive international experience and has established an extensive international network with 900 members from 30 countries.

Sh.Cheh stressed that this meeting was an important stimulus for future cooperation, and that such contact played an important role in moving to concrete action.

Then, Deputy Secretary General of the Confederation Fuad Humbatov, Director of ASK Business Consulting Shabnam Nuriyeva, as well as MICCI Representative for Water Resources and Infrastructure Business Lim Chong Ling spoke and exchanged views on issues of mutual interest.

The parties agreed to sign a memorandum of understanding in the near future to expand cooperation.