The global climate change, depleting natural resources and increasing demand are dictating the development of the green economy, stated Mikayil Jabbarov, the Minister of Economy of Azerbaijan, Report informs.

Jabbarov made this statement at the conference titled "The Role of Small and Medium Businesses in Green Economy," held in Baku, organized by the Small and Medium Business Development Agency (KOBIA) with the support of the Ministries of Economy, and Ecology and Natural Resources.

"This, in turn, has become a crucial factor for the sustainable development of every country. It is no coincidence that one of the National Priorities set by President Ilham Aliyev is 'Clean Environment and Green Growth Country.' In this regard, the implementation of relevant measures within the framework of the '2022-2026 Socio-Economic Development Strategy' continues," he noted.

"In the Green World Solidarity Year and on the eve of COP29, important events in this direction are being held in our country. The current conference, being a continuation of this, covers topical issues. In general, there are important tasks ahead related to the application of environmentally friendly technologies, increasing 'green' production, promoting recycling, and restoring polluted areas. In a word, we should achieve economic progress and social welfare based on the principle of protecting the environment. The role of the private sector, especially small and medium businesses, is significant in this work. The main purpose of today's conference is to promote the concept of green SMEs in the transition to a green economy," the minister added.