Azerbaijan-Hungary annual trade turnover grows 8%

Hungary intends to develop relations with Azerbaijan not only in the energy sector, but also in the non-oil sector, Hungarian National Development Ministry Deputy State Secretary Péter Olajos said today at an Azerbaijani-Hungarian business forum in Baku.

He added that efforts will be made to develop relations in the real sector of the economy.

Although the trade turnover between Azerbaijan and Hungary amounted to only $85 million in 2008, the annual growth of foreign trade operations hit 8%.

"I cannot name the potential level of trade turnover between our two countries, as this figure will depend on the market and the relations between entrepreneurs," Olajos said.

The business forum held in Baku today is attended by 17 Hungarian companies from the construction, IT, infrastructure, banking, and alternative energy sources sectors.

Baku hosted the forum today with the support of the Azerbaijani Economic Development Ministry, Azerbaijan Export and Investment Promotion Fund and Hungarian Embassy in Azerbaijan. About 60 Azerbaijani companies participated in the forum.


/Trend/