The U.S. Small Business Administration, its Turkish counterpart and the U.S. Commerce Department have agreed to assist small and medium-sized businesses with international trade opportunities.
The agreement was signed Sept. 29 at the National Minority Enterprise Development Week conference held in Washington. Turkey participated through its Small and Medium Enterprises Development Organization (KOSGEB).
“We are entering into this important partnership between the U.S. and Turkey to encourage the exchange of information including best practices, networking and international trade opportunities for small businesses,” said SBA Administrator Karen Mills in a news release.
Under the agreement, the Commerce Department’s International Trade Agency is to coordinate digital video conferences with the SBA and KOSGEB to provide information, share best practices and promote international trade among small businesses.
The SBA is to organize briefings for KOSGEB and representatives of Turkey about SBA’s loan guarantee and technical assistance programs, participate in an exchange of experts for training and knowledge-sharing purposes, explore meeting opportunities for U.S. and Turkish businesses and provide KOSGEB with information on SBA’s approaches to promoting opportunities for small businesses.
Meanwhile, KOSGEB is to share knowledge and experience about policies, measures and applications, exchange data and publications about small and medium-sized businesses, host an exchange of experts for knowledge-sharing purposes, organize networking events, mutual business trips to enhance the cooperation between both countries’ small and medium-sized businesses, and encourage and support establishment of ‘Business Matching Centers’ to improve the trade volume of both countries.
All of the participants are to share relevant information and best practices on innovation, entrepreneurship and export promotion, and international trade relating to small and medium-sized businesses.