President of Azerbaijan ends his visit to Hungary - UPDATED

20.02.08

10:18

President of Azerbaijan Ilham Aliyev, paying an official visit to Hungary, met with Hungarian Prime Minister Ferents Durchan.

The due information was provided by Novosti-Azerbaijan with reference to Azerbaijan's Embassy to Hungary. During the meeting the sides discussed cooperation in most fields, in particular, economic, humanitarian and energy.

Hungarian Prime Minister Durchan noted that Hungarian companies are ready to invest into Azerbaijan's non-oil sector.

I.Aliyev, in turn, stressed good potential for investments by Hungarian entrepreneurs.

President of Azerbaijan also met with speaker of Hungarian Parliament Katalin Sili. During the meeting the sides shared views on further  development of cooperation and interparliamentary ties between our countries.

In the framework of the visit President Ilham Aliyev took part in the opening ceremony of the Azerbaijani Embassy to Hungary, which ended Ilham Aliyev's visit to Hungary.

In the framework of the visit Azerbaijan and Hungary signed three main documents: a joint declaration of presidents of the two countries, a joint declaration of the Foreign Ministers of the two countries, an intergovernmental agreement on doble tax evasion between the two countries. The first Azerbaijan-Hungary business-forum also took place.

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19.02.08

16:49

President of Azerbaijan Ilham Aliyev called on Hungarian businessmen to intensify investments into Azerbaijan's economy during the business-forum in Hungary.

Novosti-Azerbaijan reports that during the event Ilham Aliyev noted that both countries have good economic potential for economic cooperation.

"The signed documents should not remain only on the paper. We intend to execute them", he noted,

The head of state reminded that Azerbaijan as a country of energy sources maintains successful cooperation with Hungary in this sphere. Azerbaijan attaches special importance to the development of the non-oil sector and large investments have been made to this sphere.

"Our country's incomes are also growing. According to the World Bank Azerbaijan's revenues will near $200,000,000,000 in the next 15 years. Azerbaijan is interested in making investments to the economic of the friendly countries", I.Aliyev noted.

Hungarian President Laslo Shoyom said in his speech that official Budapest and Hungarian entrepreneurs are interested in active cooperation with Azerbaijan.

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15:25

A source from AZPROMO told Day.Az that the event was opened by Presidents of Azerbaijan and Hungary. Istvan Forian, director of Hungarian Trade and Investments Agency informed about the state of the Hungarian economy.

Azerbaijan's Minister of Economic Development Heydar Babayev spoke of the Azerbaijani-Hungarian cooperation and AZPROMO president Emil Mejidov about Azerbaijan's investment prospects.

The busines-forum was attended by 30 companies from Azerbaijan. Bilateral meetings between Azerbaijan and Hungary took place after the forum. A memorandum in the amount of $14,000,000 for crude purchase was signed between the Azerbaijani NJT 2000 and Hungarian Borsod Chem by results of the meeting.

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14:56

Azerbaijani President Ilham Aliyev and Hungarian President Laszlo Solyom inaugurated the gathering , hailing good relations between the two countries.

Laszlo Solyom underlined energy, weaving, light chemical and food industry as priority fields for cooperation. He said the two countries had active cooperation during the soviet era and relations should be revived on that foundation.

Azerbaijan President said large-scale integration into Europe is the main priority for his country and Azerbaijan takes great interest in projects being implemented in Europe.

Ilham Aliyev also highlighted Azerbaijan’s important role in diversification of energy supplies to Europe. Mr. Aliyev also had a meeting with Hungarian Prime Minister after the meeting.

The business forum has been co-organized by Azerbaijan Export and Investment Promotion Foundation (AzPromo).

The event has been attended by Azerbaijan’s Minister of Economic Development Heydar Babayev and Nakhchivan AR Minister of Economic Development Famil Seyidov.

Representatives from Azerbaijan Franchise Association, AGBank, ABStandard, Cahan Holding, Agro-AzerInvest, AZEL and 15 other companies also participate in the forum.

Day.Az, APA