On 11 June, an awards ceremony for the winners of the media competition entitled “The role of the retail sector in the development of small and medium-sized enterprises” was held at the Baku Marriott Hotel Boulevard. The competition was jointly organised by the Azerbaijan Press Council, the Retail Networks Development Union (RNDU) and the Veyseloglu Group of Companies.

The ceremony began with the playing of the National Anthem of the Republic of Azerbaijan, followed by a minute’s silence in memory of those who gave their lives for the country.

Addressing the ceremony, Araz Imanov, Secretary General of the Retail Networks Development Union, highlighted the important role of the retail sector in the national economy. He noted that retail networks currently account for approximately 30–32 per cent of Azerbaijan’s retail market. By comparison, this figure stands at 90–95 per cent in developed countries and is regarded as one of the key indicators of economic development.

The project manager, Mahammadali Garibli; Azer Amiraslanov, Chair of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship; and Rashad Majid, Chair of the Azerbaijan Press Council, also addressed the event.

They emphasised the strategic importance of retail trade to the economy, noting that the sector extends beyond sales and services and makes a significant contribution to the development of entrepreneurship, job creation, the socio-economic development of the regions and the promotion of local production.

The speakers also underlined the importance of media competitions in increasing journalists’ interest in economic issues, encouraging more in-depth examination of the retail sector’s potential and ensuring that objective information is communicated to the public.

At the conclusion of the event, a video dedicated to the theme of the competition was screened.