TODAY.AZ / Business

Azerbaijan, Hungary to mull prospects of economic cooperation

17 January 2014 [16:18] - TODAY.AZ
The Azerbaijani and Hungarian governments plan to sign some new documents.

The agreements on cooperation are planned to be signed in the fields of ICT, tourism and agriculture as part of the fourth meeting of the Azerbaijani - Hungarian Intergovernmental Commission on Economic Cooperation, to be held in Baku on January 27-28, Hungarian ambassador to Azerbaijan Zsolt Csutora told Trend on Thursday.

"The concrete projects and proposals in the areas of mutual cooperation, causing great interest will be discussed during the meeting of the intergovernmental commission," he said.

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

The current state of bilateral economic relations, the prospects for expanding the economic cooperation will be discussed during the meeting. The opportunities for making investments in the Hungarian economy will be presented.

A business forum with participation of business people of the two countries is expected to be held as part of the meeting.

Azerbaijani Minister of Economy and Industry Shahin Mustafayev is a co-chairman of the commission from the Azerbaijani side.

The delegation headed by Secretary of State of Hungary during his visit to Baku plans to hold several meetings with the Azerbaijani government.

The ambassador called the level of economic relations between the two countries as satisfactory.

"Last year, we managed to increase the trade turnover by 30 percent compared to 2012," he said. "The trade turnover between the two countries amounted to about 60 million euro in 2013, while 20 million euro more was ensured by the service sector according to our data."

"The direct flights between Baku and Budapest opened in June 2013 were the important moment in the development of cooperation between the two countries," he said.

"Hungarian airline Wizz Air has been making flights for six months," the ambassador said.

"During this period, the passenger traffic reached more than 14,000 people. This year the company expects to increase the passenger traffic up to 26,000 people. The company also plans to increase the number of flights up to three times a week. A delegation of the company, led by director general Jozsef Varadi is discussing all these issues in Baku. The negotiations are being held with representatives of Azerbaijan Airlines and Silk Way companies. This issue will also be the subject of the intergovernmental commission's discussion."

Azerbaijan and Hungary signed an agreement on cooperation in the field of civil aviation.



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