Azerbaijani businessmen offered $150m worth of projects in Hungary
By Nazrin Gadimova
Great potential for boosting Azerbaijan-Hungary economic ties was the focus of the two-day Azerbaijani-Hungarian Intergovernmental Commission on Economic Cooperation opened in Baku on January 27.
The business forum brought together about 150 companies, who mulled joint projects in the fields of industry, agriculture, construction, tourism and other fields.
Addressing the event, Hungarian State Secretary, and the co-chairman of the joint intergovernmental commission, Peter Szijjarto, said Hungary has developed a list of projects worth $150 million, in which Azerbaijani businessmen can participate.
"We are interested in cooperation with Azerbaijan," he said, adding that currently the share of exports in the Caucasian countries is only 12 percent.
"We set the goal to increase exports out of Western Europe up to a third by 2018, particularly in the Caucasian countries, including Azerbaijan," he said. "
He also said the economic relations between the countries are actively developing, adding that just last year the trade volume grew by 27 percent according to the Hungarian calculation, and by 40 percent according Azerbaijan's data. Sijjarto said this is mainly the result of cooperation in agriculture, food industry, water management and other fields.
"Hungarian Exim Bank is ready to allocate funds to Azerbaijan to finance large projects," he added.
Azerbaijan's Economy and Industry Minister Shahin Mustafayev, who led Azerbaijani side, in turn, said relations between the two countries are developing dynamically in such areas as industry, energy, transport, communications and information technology, pharmaceuticals, environment, culture and tourism, adding that the result of this development was the growth of trade turnover between Azerbaijan and Hungary by 40 percent in 2013.
"Solid legal basis for cooperation between the two countries is created, over 30 documents are signed," Mustafayev said. "Works on the development of this basis are being continued. Signing of inter-branch contracts in the fields of IT, tourism and education is agreed. Moreover, some bilateral agreements in the fields of transport, health, youth and sports, science and innovation is under discussion."
During the second day of the Azerbaijani-Hungarian Intergovernmental Commission on Economic Cooperation, Azerbaijan and Hungary signed a protocol on the results of the meeting.
At the signing ceremony, Peter Szijjarto said Hungary and Azerbaijan will extend the existing air services agreement, which expires on April 7.
The Hungarian side has already sent to Azerbaijan the initial draft of the updated agreement, according to Szijjarto, and it will be signed up to April 7, adding that the current agreement has shown its effectiveness. Thus, the number of visas issued to Azerbaijani citizens by Hungary increased six times in 2013.
He also added that Hungary is preparing to simplify procedures for issuing visas for Azerbaijani citizens, by outsourcing the work of processing visa applications and issuing visas.
Shahin Mustafayev, in turn, said, the number of the Hungarian tourists coming to Azerbaijan also must be increased, adding that he number of visas issued by Azerbaijan's Embassy increased 2,5 times in 2013, and the number of Hungarian tourists amounted to 1500.
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 have paved the way for the development of cooperation in various 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.