Azerbaijan, Hungary mull promoting mutual investments PHOTO/UPDATED

Azerbaijan and Hungary have discussed spheres for developing economic cooperation, encouraging investments and the possibility of implementing joint projects.

Azerbaijani Minister of Economy Mikayil Jabbarov held a videoconference meeting with Hungarian Minister of Economic Development Marton Nagy, Caliber.Az reports, citing the Azerbaijani Economy Ministry.

The dynamic development of the Azerbaijani-Hungarian trade and economic relations and the growth of trade turnover were stressed at the meeting, and the significant role of close ties between entrepreneurs in strengthening cooperation was emphasised.

There are great opportunities for bolstering cooperation in spheres such as energy, transport, information technologies, agriculture, pharmaceutics, industry, including the food industry.

The minister noted that the plant for the production and filling of aluminum drink cans, being built in the Alat Free Economic Zone in accordance with the signed investment agreement between Azerbaijan Investment Company and the Hungarian Hell Energy company, is a successful example of effective business cooperation.

Information on the business environment and the conditions created in Azerbaijan for private and foreign companies was provided at the meeting. Hungarian companies were called for active partnership.

Nagy emphasised the importance of cooperation with Azerbaijan from the point of view of ensuring energy security and shared his vision of directions for further strengthening the economic partnership.

The sides discussed the spheres for the development of economic cooperation between Azerbaijan and Hungary, encouragement of trade relations and investments, as well as the possibility of implementing joint projects.

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Azerbaijani Minister of Economy Mikayil Jabbarov has written that Azerbaijan and Hungary discussed the promotion of mutual investments and implementation of joint projects.

"During the video conference with Marton Nagy, the Hungarian Minister of Economic Development, we discussed various aspects of economic cooperation between our countries. This included discussions on promoting trade relations, encouraging mutual investments and exploring prospects for the implementation of joint projects," Caliber.Az reports citing Jabbarov’s message on X.

🇦🇿🇭🇺 During the video conference with Marton Nagy, the Hungarian Minister of Economic Development, we discussed various aspects of #economic cooperation between our countries. This included discussions on promoting #trade relations, encouraging mutual #investments and exploring… pic.twitter.com/lYjnJhjlJ3

— Mikayil Jabbarov (@MikayilJabbarov) September 26, 2023