Minister: Azerbaijan, Hungary have potential to develop economic relations (PHOTO)

Photo: Minister: Azerbaijan, Hungary have potential to develop economic relations (PHOTO) / Business News

Azerbaijan, Baku, Dec. 5 / Trend J. Nasibova /

Political relations between Azerbaijan and Hungary are at a high level and there is potential for further development. This is confirmed by numerous visits and meetings, Azerbaijani Economic Development Minister Shahin Mustafayev said at the Azerbaijani-Hungarian business forum today.

"Each visit brings positive results, so we expect a lot from the visit of State Secretary of Hungarian Prime Minister's Office and co-chairman of the Azerbaijani-Hungarian Intergovernmental Economic Commission Peter Szijjártó," the minister said. "The Hungarian Trade House will be opened during this visit."

He said that at present the countries have signed some 30 documents which creates favourable conditions for the development of economic relations between Azerbaijan and Hungary.
The minister said the two countries have the potential for developing relations in investment, construction, pharmaceuticals and other areas.

"The government support for businessmen wishing to cooperate with Hungarian companies is being guaranteed," he said. "There is also a necessary legal framework."

A Hungarian delegation which includes representatives from various sectors of the economy, banking and tourism sectors, including Viz-Air airline, is in Baku.

Trade turnover between the two countries in January-October 2012 amounted to $13.397 million, $13.3 million of which fall to imports.

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