Azerbaijan, Hungary discuss ways to expand economic co-op
By Amina Nazarli
Shahin Mustafayev, Azerbaijan's economy and industry minister
met with Zsolt Csutora, the Hungarian ambassador to the country in
Baku on April 9.
The two sides touched upon several issues regarding various fields,
AzerTac state news agency reported.
The parties hailed the successive development of cooperation
between the two countries, and stressed the importance of
reciprocal visits in terms of expanding bilateral relations.
They also spoke of the activity of the joint commission on economic
cooperation between the two countries.
The sides discussed preparations for the next meeting of the joint
commission, and exchanged views over expansion of economic
relations between the two countries.
Azerbaijan-Hungarian relations are developing successfully and there is a huge capacity for the development of trade and economic cooperation, as Hungarian companies consider the Azerbaijani market as an alternative to the Russian market, on the backdrop of EU sanctions. Hungary is also a good platform for Azerbaijani investors.
Hungary signed strategic partnership agreement with Azerbaijan in 2014.
The trade turnover between Azerbaijan and Hungary amounted to $95.55 million in 2014, according to the Azerbaijan State Customs Committee. Around $71.56 million accounted for Azerbaijani exports. The trade turnover increased by 2.9 times due to an increase in exports by 1,560 times compared to 2013.
Chutora earlier said Hungary will open a visa center in Baku in the near future, which will render technical services while issuing a Schengen visa for the citizens of Azerbaijan.
The opening of the visa center would greatly facilitate all visa obtaining procedures for citizens of Azerbaijan visiting this country.
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