BAKU, Azerbaijan, October 14. A total of 26 companies with Hungarian capital are operating in Azerbaijan, the Labor and Social Protection Minister Sahil Babayev said at a solemn event in honor of Hungary's national holiday - the anniversary of the Hungarian Revolution of 1956, Trend reports.
“More than 60 documents signed so far between Azerbaijan and Hungary create a solid legal basis for bilateral cooperation. Our countries support each other in international and regional organizations and share similar views on global and regional issues.
Economic ties between the two countries demonstrate steady growth dynamics. Currently, 26 companies with Hungarian capital operate in Azerbaijan,” Babayev noted.
The Minister emphasized that the 30 percent growth in trade turnover between the two countries over the past 8 months is a clear example of the strength of bilateral economic relations.
“Cooperation between Azerbaijan and Hungary in the field of traditional and green energy has also moved to a new stage,” Babayev added.
According to him, Azerbaijan expects Hungary's active participation in COP29.
“We are confident that our Hungarian friends will make a significant contribution to the success of this conference,” the minister said.