Azernews.Az

By Nazrin Gadimova

The fourth meeting of the Azerbaijani-Hungarian Intergovernmental Commission on Economic Cooperation will be held in Baku on January 27-28.

Hungary's Ambassador to Azerbaijan Zsolt Csutora made the remark on January 9, noting that the event will mull concrete projects and proposals in the areas of mutual cooperation causing great interest.

Opportunities for investing in the Hungarian economy will also be presented during the event.

A governmental delegation led by Hungarian State Secretary, co-chairman of the joint intergovernmental commission Peter Szijjarto, will arrive in Baku to attend the meeting.

Azerbaijani side of the commission is led by Economy and Industry Minister Shahin Mustafayev.

Csutora further said the current state of bilateral economic relations between the two countries and the prospects for expanding economic cooperation will also be discussed.

The delegation headed by Peter Szijjarto plans to hold several meetings during his visit to Azerbaijan. Moreover, a forum with the participation of business people from the two countries will be held in Baku as part of the meeting.

Hungary recognized Azerbaijan's independence in 1991, and diplomatic relations between the two countries were established in April 1992.

The Azerbaijani-Hungarian relations are at a high level and are based on friendship and mutual interests. The high-level relations pave the way for the development of cooperation in economics and other fields.

Moreover, Azerbaijan and Hungary have great opportunities for the expansion of economic cooperation, establishment of relations between the players of the securities market as well as exchange of experience and knowledge in this sector.

A trading house was established in Azerbaijan in 2012 to develop the country's cooperation with Hungarian medium-sized businesses.

Some 200 pedigree Holstein dairy cattle, Sharole, 200 Limuzin, Simmental meat breeds with high genetic characteristics were brought to Karabakh Agrarian Industry Complex from Hungary with financial support of the National Fund for Entrepreneurship Support in 2013.