Azerbaijani Minister: Great possibilities between Hungary and Azerbaijan to cooperate in IT sector and alternative energy sources

Ensuring security of supply, petrochemical industry, agriculture, tourism and construction sectors are the priority areas for cooperation between Azerbaijan and Hungary, said Hungarian Secretary of State for National Development and Economy, Zoltan Mester.

The meeting of Azerbaijan-Hungary inter-governmental commission was held in Budapest, within which Azerbaijan-Hungary business forum and B2B meeting (business-to-business) took place Feb. 22-23. B2B meetings covered the sectors such as agriculture and food industry, medicine (pharmaceuticals), logistics, tourism, ICT, alternative energy, textiles, construction and finance.

The Azerbaijani delegation headed by Economic Development Minister Shahin Mustafayev is on visit to Budapest to attend these events.

"There are great opportunities between countries to cooperate in developing IT-sector and alternative energy sources," said Mustafayev, inviting the Hungarian companies to strengthen cooperation.

A protocol was signed as a result of session of the joint commission.

According to Hungarian statistics, the trade turnover between Azerbaijan and Hungary reached $81 million in 2009, 99 percent of which accounted Hungarian exports. According to Azerbaijan State Statistics Committee, the import of Hungarian products in 2009 amounted to $14.023 million, while exports totaled $50,500.

The previous business forum between the two countries was held in summer 2008 in Baku within Hungarian Prime Minister Ferenc Gyurcsany's official visit to Azerbaijan. Then he mentioned the construction sector, infrastructure, water treatment, reconstruction of power plants, telecommunications networks, agriculture, environmental clean-up, in which the Hungarian companies were interested. Hungarian companies intend to deliver to Azerbaijan a range of technologies for the food industry.

/Trend Capital/