Turkey’s finance ministry said on Tuesday it was working on a Treasury-backed development of small and medium enterprises (SMEs), an official said on Thursday. The parties are planning mutual exchange programs through a jointly agreed action plan under the Memorandum of Understanding (MoU) signed by the Turkish Small and Medium Enterprises Development Organization (KOSGEB) and the Tatarstan Business Development Fund. The agreement was signed during the 13th Russia-Islamic World International Economic Summit: Kazan Summit 2022, held in the Russian Republic of Tatarstan.
The head of KOSGEB, Hasan Basri Kurt, said that the two institutions will cooperate intensively on the development of small and medium enterprises in Turkey and Tatarstan, building on the existing strong bilateral relations. “We see new opportunities where we could work together in many areas,” he said. The mega international economic meeting aims to strengthen relations between Russia and member countries of the Organization of Islamic Cooperation (OIC) with the topics of partnership financing, halal industry, export development, business and investment.
The main topic of the summit was the halal industry and, according to Kurt, a growing industry trend worldwide, especially in Muslim countries. The industry has seen a lot of progress in Turkey, and part of KOSGEB’s work will be to ensure that its businesses receive halal accreditation. “We are currently offering certification support of 10,000 TL ($615) to our small and medium-sized enterprises that want to obtain certification from the Halal Accreditation Organization,” Kurt said. employment, economic development and social stability.
He gave the example of Turkey as a country that has received a lot of attention worldwide for its success in developing small and medium enterprises over the past 20 years. The country’s exports have grown exponentially and small and medium-sized enterprises are gaining a greater position in shares of those exports, contributing to the economy and providing employment, he said. KOSGEB’s role is to best represent Turkey by sharing its success stories with other interested developing countries, Kurt concluded.
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