Hungary, Azerbaijan to expand spheres of trade-economic cooperation – MFA

BAKU, Azerbaijan, Jan. 13

By Sadraddin Aghjayev – Development:

Hungary and Azerbaijan will develop the spheres of trade-economic cooperation, the Hungarian Ministry of Overseas Affairs and Commerce instructed Development on Jan. 10.

In keeping with the ministry, that is anticipated to happen after the assembly of the bilateral intergovernmental fee on financial cooperation, which is scheduled for February in Baku.

“We positively take a look at the additional improvement of bilateral trade-economic cooperation. Hungarian corporations have considerably expanded their presence within the Azerbaijani market in recent times,” the ministry reminded. “In 2020, Azerbaijan grew to become Hungary’s 78th largest export accomplice. From January by October 2021, Hungary primarily exported drinks, livestock, and medicines to Azerbaijan.”

“On the similar time, Hungary as a complete imported telecommunications tools, sound recording and reproducing gadgets, steel merchandise, and energy producing machines and tools from all nations,” the ministry additionally mentioned. “In addition to, because of its confirmed reserves of pure fuel, Azerbaijan can play an essential position in diversifying the provision of blue gasoline to Europe.”

“Minister of Overseas Affairs and Commerce Péter Szijjártó, throughout his go to to Baku in March final yr, mentioned that from 2023 Hungary will likely be keen on shopping for Azerbaijani fuel. In keeping with him, Azerbaijan and Hungary even have the potential to develop cooperation within the area of agriculture,” concluded the ministry.

Observe the creator on Twitter: @agdzhaev


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