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The Small and Medium Business Development Agency of the Republic of Azerbaijan (SMED) was established by the Decree of the President of the Republic of Azerbaijan dated December 28, 2017.
The Charter and structure of the Agency were approved by the Presidential Decree dated June 26, 2018.The Agency is a public legal entity that supports the development of small and medium-sized businesses in the country, provides a number of services to SMEs, coordinates and regulates the services of government agencies in this area and operates under the Ministry of Economy.The Agency is managed by a 7-member Supervisory Board.
The Supervisory Board consists of the Minister of Economy, Deputy Ministers of Finance, Taxes, Labor and Social Protection and Agriculture, Deputy Chairman of the State Agency for Citizen Services and Social Innovations under the President of the Republic of Azerbaijan and President of the National Confederation of Entrepreneurs (Employers).
The Chairman of the Supervisory Board of the Agency is the Minister of Economy.