Azerbaijani FM off to Hungary

Azerbaijani Foreign Minister Jeyhun Bayramov has left on an official visit to Hungary.

The first session of the Azerbaijani-Hungarian strategic dialogue is planned within the framework of the visit, Caliber.Az reports with reference to the Foreign Ministry.

The minister is also scheduled to meet with his Hungarian Peter Szijjarto and other high-ranking officials.

Within the framework of the visit, Minister Bayramov will also address a conference of heads of diplomatic missions in Hungary.

Azerbaijan-Hungary trade and investment relations are developing quite successfully: according to the results of 2022, trade turnover reached $47.4 million, which is 34.81 per cent more than in the previous year, and this positive trend is being maintained in the current year.

At the same time, at the beginning of last year, the volume of foreign direct investment (FDI) from Hungarian private companies in the economy of our republic exceeded $340 million, with the level of capitalization of the Azerbaijani economy by Hungarian investors increasing dynamically: the Hungarian EXIM Bank opened a special $120 million credit line in early 2021 to finance joint projects of Hungarian companies for the export of services and technologies or the establishment of a joint venture in Azerbaijan.