Azerbaijan, Hungary unveil promising cooperation spheres

Hungarian Prime Minister Viktor Orban met Azerbaijani Economy Minister Mikayil Jabbarov during his visit to Budapest.

The sides noted great opportunities to bolster ties between Azerbaijan and Hungary in spheres such as energy, industry, transport, information technologies, agriculture, trade, education and others. Both countries are taking the necessary steps to realise this potential, Report informs.

The importance of the discussions was emphasised, satisfaction with the successful implementation of the reached agreements was expressed, the dynamics of the development of the Azerbaijan-Hungary relations, prospects for economic cooperation and the results of a productive partnership on joint projects were discussed at the meeting.

Orban touched upon the importance of cooperation with Azerbaijan from the point of view of energy security at the reception, which was attended by Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó and Minister of Economic Development Márton Nagy.

The Hungarian prime minister also noted that a number of Hungarian companies are successfully expanding their activities in Azerbaijan, others – are considering investment opportunities.

An increase in trade turnover and the implementation of mutually beneficial investment cooperation were noted, which shows mutual interest in expanding the partnership.

Jabbarov also met with Szijjártó as part of the visit.

The sides emphasised that the Azerbaijan-Hungary relations are based on the principles of strategic partnership; the leadership of both countries attaches particular importance to the development of cooperation and the effective use of existing potential.

The information on transport corridors passing through Azerbaijan, the capabilities of the Baku International Sea Trade Port and the Alat Free Economic Zone was provided at the meeting. Hungarian companies were invited to take advantage of the favourable business environment and transit potential of Azerbaijan.