Azerbaijan, Hungary to jointly realize major agricultural project
By Amina Nazarli
Hungary, which has the highest trade turnover with Azerbaijan among the South Caucasus countries, will realize a major agricultural project in the country.
Groundbreaking ceremony for a greenhouse complex to be jointly built by Azerbaijani CTC Holding and Hungarian companies will be held on August 15 in Azerbaijan’s Khizi region, the Hungarian embassy in Baku reported
The greenhouse complex worth 17.2 million euros will be located on the territory of 210,000 square meters. The project will be financed by the Hungarian Export-Import Bank.
“Currently, this is the largest joint Azerbaijani-Hungarian agricultural project,” said the Embassy.
Kesz International Kft. will be a contractor for the project of the greenhouse complex construction.
The agricultural production is one of the most developed fields of Hungary’s national economy, while development and strengthening of the agro industries are one of the top priorities for Azerbaijan today.
Enjoying advantageous geographic location, Azerbaijan has every opportunity to increase export of high quality agro products, which are in great demand in neighboring countries.
The agricultural sector is important in Azerbaijan not only to increase export potential, but also to restore and protect the country’s food security.
Over 50 percent of the Hungarian trade with the South Caucasus region accounts for Azerbaijan.
Azerbaijan’s trade turnover with Hungary amounted to about $20 million in January-July 2017, according to Azerbaijan’s State Customs Committee. Last year, the trade turnover between two countries amounted to more than $50 million.
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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli
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