Hungary eyes to boost trade turnover with Azerbaijan (Exclusive)

Business Materials 1 February 2018 08:18 (UTC +04:00)
Hungary intends to boost trade turnover and promote mutual investments with Azerbaijan
Hungary eyes to boost trade turnover with Azerbaijan (Exclusive)

Baku, Azerbaijan, Feb.1

By Leman Zeynalova – Trend:

Hungary intends to boost trade turnover and promote mutual investments with Azerbaijan, ambassador of Hungary to Azerbaijan Viktor Szederkenyi said in an interview with Trend and Azernews.

"In my view, the current level of economic cooperation does not coincide with the potential of the two countries. It does not reflect the excellent political relations between our countries, either. The trade turnover has a modest positive trend, but we are not satisfied with the numbers," said the envoy.

He pointed out that the two countries have identified those areas that are best suited for joint cooperation and projects – like agriculture, information and communication technologies (ICT), transport, logistics, water management, etc.

"I also devote a lot of time in my work to exploring the opportunities and encouraging the mutual exchanges between our business people," added Szederkenyi.

He noted that the main ingredients of the Hungarian export are: the well-known pharmaceuticals, agricultural products and technologies, electronic equipment, cars assembled in Hungary, food items, beverages and livestock.

"Apart from the increase in trade turnover, our primary goal is the promotion of mutual investments, to develop project-based, long-term cooperation. Hungary is a good platform for Azerbaijani investors in the entire EU market as well," said the envoy.

Further, Szederkenyi talked about joint business projects that are currently being implemented by the two sides.

"In the areas of cooperation that we consider as strategic, Hungary offers new cutting-edge technologies, high-level solutions and know-how. We’ve just started a common agricultural project in nearby Khizi district: we build a modern greenhouse complex with the financial support of the Export-Import Bank of Hungary. The Budapest Waterworks company has long-term cooperation with AZERSU company in the field of water management. The EU E-Agriculture project in Azerbaijan has been implemented with Hungarian leadership. Recently a Hungarian company supplied gamma sterilization equipment for the Azerbaijani National Nuclear Research Center," he said.

According to Azerbaijan’s State Customs Committee, trade turnover with Hungary amounted to $43.3 million in January-December 2017, some $41.3 million of which accounted for the import of Hungarian goods.


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