Azerbaijan launches unified agency for SME development, investment, and export

A new Agency for Small and Medium Business Development, Investment, and Export Promotion under the Ministry of Economy officially commenced operations in Azerbaijan today. The unified entity was established under Decree No. 607 signed by President Ilham Aliyev on February 24, 2026.

The new body merges two existing structures subordinated to the Ministry of Economy: the Small and Medium Business Development Agency (KOBIA) and the Export and Investment Promotion Agency (AZPROMO).

The agency is mandated to foster micro, small, and medium-sized enterprises, drive non-oil investment and export growth, safeguard entrepreneurs' legal interests, and coordinate public-private dialogue. The authorized staffing limit for the newly consolidated agency is set at 370 employees, with 291 positioned in the central office and 79 across regional offices.