Hungarian companies to participate in reconstruction of settlement in Azerbaijan's Karabakh - minister

Politics Materials 21 August 2023 12:00 (UTC +04:00)
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, August 21. Hungarian companies will participate in the reconstruction of the Soltanli settlement of Azerbaijan's Karabakh, Minister of Foreign Affairs and Foreign Economic Relations of Hungary Peter Szijjarto said, Trend reports.

"An Azerbaijani government-approved consortium of Hungarian firms will carry out the reconstruction," he said.

He also added that Hungary and Azerbaijan have taken their energy cooperation to a new level with the establishment of a physical gas transportation connection through a storage contract.

"This signifies a significant step in our bilateral strategic collaboration. Hungary and Azerbaijan have initiated a gas supply agreement involving the storage of 50 million cubic meters of gas in Hungary, and the gas flow has already commenced. This development is viewed as a positive contribution to Hungary's energy security," Szijjarto noted.

Earlier, Ambassador Extraordinary and Plenipotentiary of Hungary Tamás Torma said in an exclusive interview with Trend that Hungary was among the first countries to express its interest to participate in the rebuilding and reconstruction works on the liberated territories.

"And we have reiterated our intention at various high-level meetings since then. Our companies participated at the Rebuild Karabakh EXPO in October 2021, as well as between 19-21 October 2022," said the ambassador.

Torma pointed out that the potential spheres of cooperation, such as infrastructural, urban and agricultural development, have already been identified.

"At the moment, we are working on promoting concrete projects in these areas. It is important to note that the Hungarian EXIM Bank has a special credit line of 120 million dollars for financing joint projects by interested Hungarian and Azerbaijani companies," the ambassador added.