Last week review (June 27-July 1)

Analysis Materials 4 July 2016 16:15 (UTC +04:00)

June 28

Hungary to explore possibility to finance North-South railway project

Hungarian Export-Import Bank Plc (Eximbank) will explore the possibility of providing financial support to implementation of the North-South railway corridor, designed to connect Northern Europe with South-East Asia through Azerbaijan.

An agreement on this issue was reached at a meeting of Azerbaijan’s Economy Minister Shahin Mustafayev with Hungary’s Minister of Foreign Affairs and Trade Peter Szijjarto in Baku. Azerbaijan’s Economy Ministry told Trend that the Hungarian side is also interested in rendering engineering services and services in the equipment supply.

EU allocates funds for rural development support program in Azerbaijan

The EU allocated 7.2 million euro to the Azerbaijani government in the framework of the Rural Development Support Program (RDSP), which supports regional and rural development reforms of the country’s government, the delegation of the European Union in Azerbaijan said. The objective is to promote sustainable agricultural and rural development by ensuring food security, food safety and phytosanitary controls, the EU delegation said.

Hungary not to allow activities of its companies in Azerbaijan’s occupied territories

Goods, produced in Azerbaijan’s territory, which don’t have certificates of origin issued by the country’s relevant authorities, will not be admitted to Hungary’s territory.

This agreement has been reached between the two countries within the memorandum of understanding signed in Baku during the meeting of the Azerbaijani-Hungarian intergovernmental commission on economic cooperation.

Hungary will inform its legal entities and individuals about how to refrain from investing or providing any services in Azerbaijan’s occupied territories.

The memorandum between Hungary and Azerbaijan also envisages the expansion of cooperation in a number of directions – in the spheres of trade, investments, industry, energy, transport, ICT, health, education, culture, tourism, agriculture, environmental protection, youth, sports and science.

Meanwhile, another memorandum of understanding has been signed between Hungary’s Association of Industrial, Scientific, Innovative and Technological Parks and Azerbaijan’s Sumgait Chemical Industrial Park.

Hungarian firms can produce medicine in Azerbaijan – minister

Hungarian companies can start medicine production in Azerbaijan, Shahin Mustafayev, Azerbaijani economy minister, said. Exploring the opportunities of the joint medicine production is envisaged in the memorandum of understanding (MOU) signed at the intergovernmental commission’s meeting in Baku. Moreover, the MOU envisages the continuation of negotiations with Hungarian distributors, investors and shareholders in the medical projects to provide Azerbaijan with high-quality medical products.

Hungary to consider creating enterprise for plants processing in Azerbaijan

Hungary will consider possibility of creating an enterprise for processing of plants and spices in Azerbaijan’s Lankaran district, according to the memorandum of understanding between signed following the sixth meeting of the Azerbaijan-Hungary Intergovernmental Commission in Baku. In accordance with the document, establishment of an enterprise in any other district of Azerbaijan may also be considered. Azerbaijan and Hungary agreed to discuss creation of logistics centers to store agriculture products, increase the export of Azerbaijani agriculture products to Hungary, as well as set the areas of cooperation in selective plant breeding, seed production and more, according to the memorandum of understanding. The Hungarian side also appealed to Azerbaijan to promote the livestock export from Hungary to Azerbaijan.

June 30

Azerbaijan, Mongolia to establish direct air services

Azerbaijan and Mongolia are considering to implement regular flights between the two countries, said Azerbaijan’s State Civil Aviation Administration in a message posted on its website. The negotiations between the Azerbaijani and Belarusian delegations have been held in Mongolia’s capital Ulaanbaatar in accordance with the previously reached agreement.

“Both delegations have agreed the draft of “Air Services Agreement between the Government of the Republic of Azerbaijan and the Government of Mongolia,” said the message. The two delegations also discussed the issues of bilateral cooperation in the field of air transportation and the prospects of scheduled flights between Azerbaijan and Mongolia, according to the message.

As a result of the meeting, the Agreed Minutes have been signed by the heads of delegations, which will serve as a basis for regular passenger and cargo operation’s commencement between Azerbaijan and Mongolia.

Azerbaijan, Belarus keen to expand airfreight opportunities

Azerbaijan and Belarus agreed to provide their airlines with extra opportunities for implementing airfreights between the two countries, said Azerbaijan’s State Civil Aviation Administration in a message posted on its website.

Negotiations were held on the issue in Baku between the Azerbaijani and Belarusian delegations.

“During the negotiations, the parties discussed the bilateral cooperation in air transportation,” said the message.

The two sides also agreed to grant code-sharing right for designated airlines.

July 2

Russia’s participation in financing of Rasht-Astara (Iran)-Astara (Azerbaijan) railway discussed in Baku

Terms of participation of Russian Railways OJSC in the financing of the Rasht-Astara (Iran)-Astara (Azerbaijan) railway line have been discussed in Baku, head of the press-service of Azerbaijan Railways OJSC Nadir Azmammadov said.

The discussions were held during the trilateral meeting of the representatives of the railways of Azerbaijan, Iran and Russia.

A final protocol was signed at the event.