Hungary’s open support for Azerbaijan during the Patriotic War and the willingness of Hungarian companies to join the restoration work in the liberated territories testify to the development of friendly relations and economic cooperation between the two countries. According to the press service of the Ministry of Labor, the co-chairman of the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Hungary, Minister of Labor and Social Protection of the Population of Azerbaijan, Sahil Babayev, said this at a meeting with Minister of Foreign Affairs and Foreign Trade of Hungary Peter Siyarto.
At the meeting, it was noted that a credit line worth more than $ 100 million from the Hungarian EXIM Bank was opened for Hungarian companies to participate in the restoration of the liberated territories of Azerbaijan.
It is also reported that the Hungarian side has allocated a grant of 25,000 euros for the clearance of these areas.
An analysis of the results of the activities of the joint commission was carried out. It was noted that an increase in trade between the two countries by 9% in 2020 is a manifestation of positive dynamics.
The meeting discussed the successful results of the “Joint Declaration on Strategic Partnership between the Republic of Azerbaijan and Hungary” adopted by the heads of state. In the development of economic relations, the importance of business forums, business meetings held in the past in Baku and Budapest, as well as the opening of the House of Azerbaijan in Budapest was noted.
The current state and prospects of relations, mutual investments in energy, transport and tourism, agriculture, education and various fields were discussed.