Azerbaijan, Hungary set stage for deeper insurance sector cooperation

On March 7, 2025, Azerbaijan and Hungary held discussions to explore potential collaboration in the insurance sector, marking an important step toward enhancing bilateral ties in this field.

According to the Association of Insurers of Azerbaijan (ASA), the talks took place between ASA Executive Director Elmar Mirsalayev and Hungarian Ambassador to Azerbaijan Tamás Torma, Caliber.Az reports.

The two sides focused on key topics, including the activities of the "Insurance Union of the Turkic World" and the role of the "Association of Hungarian Insurers" as an observer within the Union. Both parties expressed strong support for deepening cooperation between Azerbaijan and Hungary in the insurance sector, agreeing to take concrete steps toward this goal in the near future.

Hungary and Azerbaijan share strong ties within the framework of the Organization of Turkic States (OTS). While Hungary is not a full member, it has participated as an observer since 2018, marking its growing involvement in Turkic cooperation. The relationship between the two countries in this context has focused on enhancing cultural, economic, and political ties.

Hungary supports Azerbaijan’s initiatives within the OTS, particularly in areas such as trade, energy, and regional security. Both countries work closely to strengthen their cooperation in sectors like education, tourism, and insurance, as seen in their ongoing discussions and agreements within the framework of the OTS.

By Tamilla Hasanova