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Hungary to consider creating enterprise for plants processing in Azerbaijan

Economy Materials 28 June 2016 20:40 (UTC +04:00)

Baku, Azerbaijan, June 28

By Azad Hasanli – Trend:

Hungary will consider possibility of creating an enterprise for processing of plants and spices in Azerbaijan’s Lankaran district, according to the memorandum of understanding between signed June 28 following the sixth meeting of the Azerbaijan-Hungary Intergovernmental Commission in Baku.

In accordance with the document, establishment of an enterprise in any other district of Azerbaijan may also be considered.

“The Hungarian Chamber of Agriculture is ready for cooperation to share experience with the relevant structure of Azerbaijan in spheres of animal husbandry, plant protection, fishery and food industry, as well as development of economic relations and trade,” read the document.

Azerbaijan and Hungary agreed to discuss creation of logistics centers to store agriculture products, increase the export of Azerbaijani agriculture products to Hungary, as well as set the areas of cooperation in selective plant breeding, seed production and more, according to the memorandum of understanding.

The Hungarian side also appealed to Azerbaijan to promote the livestock export from Hungary to Azerbaijan.

Moreover, Azerbaijan will learn from Hungary’s experience in the poultry farming and establish cooperation with Hungarian companies operating in this field.

The sides also pledged to create an exchange program for joint research projects, students and teachers of research institutions.

According to the Azerbaijani State Customs Committee, the Azerbaijan-Hungary trade turnover was $15.56 million in January-May 2016, which is 62 percent more than in the same five months of 2015.

Almost the entire volume of the trade turnover accounted for import of Hungarian products.

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