Azerbaijan, Hungary explore new frontiers in trade, technology, and industry PHOTO

Azerbaijan’s Minister of Economy, Mikayil Jabbarov, recently met with Gellért Jászai, Hungary’s Ambassador-at-Large for the Development of International Business Relations and Chairman of the Board of Directors of 4iG Space and Defence Technologies Plc.

The meeting, announced by the Ministry of Economy and reported by Caliber.Az, focused on strengthening the already flourishing economic and trade ties between Azerbaijan and Hungary.

During their discussion, special attention was given to the significant progress in cooperation within the energy sector — a cornerstone of the relationship between the two countries. Both sides underlined the importance of maintaining and expanding this mutually beneficial partnership, exploring new opportunities to deepen economic collaboration.

Jabbarov and Jászai also praised Azerbaijan’s favourable business climate, highlighting it as an attractive destination for investment. Reflecting this positive outlook, 4iG Space and Defence Technologies Plc expressed a keen interest in investing in Azerbaijan’s rapidly developing technological ecosystem, signalling growing confidence from Hungarian enterprises in the country’s potential.

Beyond energy, the meeting covered a broad range of cooperation areas, including trade and investment expansion, transport and transit infrastructure, and the establishment of joint ventures within Azerbaijan’s industrial zones. The possibility of technology transfer also featured prominently in their talks, reflecting shared ambitions to foster innovation and modernise industry.

4iG Group, the Hungarian company represented by Jászai, is a key player in information technology and telecommunications. Its main business activities encompass IT services, telecommunications, satellite technology, and the space industry, positioning it as a significant partner for Azerbaijan’s growing tech sector.

By Tamilla Hasanova