The project on the improvement of business statistics, implemented in Azerbaijan with EU’s support, is of great importance, Chairman of the Board of the Small and Medium Business Development Agency of Azerbaijan (KOBIA) Orkhan Mammadov.

He was speaking at a ceremony dedicated to the results of the EU Twinning Project "Support to the State Statistical Committee and the State Tax Service under the Ministry of Economy to strengthen collection, harmonization, analysis, publication and dissemination of business statistics", a correspondent of News.Az reports.

The KOBIA head noted that Azerbaijan and the EU will implement many joint initiatives and projects based on mutual interests.

“Azerbaijan also cooperates with the EU within the framework of TAIEX, SIGMA, Budget Support Instruments and other mechanisms, as a result of which the country has received 582 million euros in assistance since 1992,” Mammadov said.

He also stressed the importance of business statistics in terms of sectoral analysis and forecasting of the economy, including the definition of supply and demand, efficient allocation of resources, proper organization of production, and analysis of dynamics.

News.Az