Azerbaijan, Baku, Feb.25 / Trend U. Ismaylova /
Azerbaijan has achieved significant success in economic development. The state attaches great importance to developing international relations, Azerbaijani Economic Development Deputy Minister Niyazi Safarov said today at an Azerbaijani-Hungarian business forum in Baku.
"Although trade turnover between the countries today is at quite a low level, I believe that this meeting and other meetings will create a major guarantee for the development and improvement of these indicators," Safarov said.
He said the necessary legal framework exists, as well as a serious potential and mechanism for developing relations between these two countries.
"Great attention is also paid to entrepreneurs of both countries in developing bilateral trade relations," Safarov said.
Ties between Azerbaijan and Hungary started to develop rapidly over the past two years, Hungarian National Development Ministry Deputy State Secretary Péter Olajos said.
"We are seeing the dynamic development of Azerbaijan's economy and believe that the expansion of relations would be beneficial for both countries," Olajos said.
According to him, Hungary imports 100 percent of its oil and 80 percent of its natural gas. The country intends to diversify its supply sources, as at present it imports energy resources only from Russia.
The Hungarian government strongly supports projects to diversify energy supplies to Europe, particularly the Nabucco project, Olajos noted.