Baku, Azerbaijan, March 6
Azerbaijan and Hungary signed four memorandums of understanding during the bilateral business forum held in Baku March 6.
The documents have been signed between Hungarian and Azerbaijani companies - Umirs Europe and East Stream, Project Service Venture and RR Group of Companies, Toll Service and Sinam, European Parking System and Komtec.
The business forum is being held during the visit of Hungarian Prime Minister Viktor Orban to Baku.
Over 50 representatives of Hungarian companies operating in agriculture, ICT, construction, renewable energy sources, industrial production, tourism, light industry, consulting and etc. are participating in the event.
Azerbaijan and Hungary plan to cooperate in the sphere of developing the toll roads system, information technologies and developing agriculture in Azerbaijan.
Hungarian companies actively participate in construction of roads and bridges in Azerbaijan and the two sides plan to expand the cooperation in this sphere as well.
The trade turnover between Azerbaijan and Hungary in 2015 totalled $27.96 million, of which over $27.7 million accounted for the import of Hungarian products, according to Azerbaijan's State Customs Committee.