Hungarian firms to take part in Garabagh restoration from 2024 - Szijjártó

“A consortium made up of the largest Hungarian companies will participate in the restoration of Soltanli village in Garabagh region of Azerbaijan starting next year,” Hungarian Foreign Minister Peter Szijjártó said.

 At a joint press conference held with Azerbaijani Economy Minister Mikail Jabbarov, Szijjártó said both countries are extremely committed to further developing ties, Caliber.Az reports with reference to the Hungarian newspaper The Budapest Times.

Szijjarto called Hungary's participation in the restoration of Garabagh an important achievement, adding that restoration plans have already been approved and parts of the relevant agreements have been signed.

The minister noted that at the outset of 2023, Hungary began importing natural gas from Azerbaijan under an agreement providing for annual imports of 100 million cubic meters of gas. However, he added that increasing these volumes will require “measures on the part of the European Union to promote infrastructure development in South-Eastern Europe.”

According to Szijjártó, in the first half of 2023, Hungarian exports to Azerbaijan increased 3.5 times, and its total value exceeded last year's figure. He added that imports are also growing rapidly.

The minister noted that the Hungarian energy company MOL is an important partner in oil production in Azerbaijan, and increasing oil imports from this country helps strengthen Hungary's energy security.

“Hungary and its people benefit greatly from long-term cooperation with Azerbaijan,” Szijjártó said, noting that energy cooperation between the two countries began in 2010.