Today.Az » Business » Azerbaijan-Hungary Intergovernmental Commission marks milestone in Baku Summit
25 April 2024 [13:10] - Today.Az

Ulviyya Shahin

Against the backdrop of strengthening diplomatic ties between Azerbaijan and Hungary, the joint session of the Azerbaijan-Hungary Intergovernmental Commission convened in the vibrant city of Baku, marking a significant milestone in bilateral relations, Azernews reports.

The gathering served as a platform for both nations to delve into crucial matters of mutual interest, fostering economic cooperation and cultural exchanges.

Prior to the commencement of the official session, a pivotal one-on-one meeting set the stage for substantive discussions. The esteemed co-chairs of the Commission, Sahil Babayev, Minister of Labor and Social Protection of the Republic of Azerbaijan, and Peter Szijjarto, Hungarian Minister of Foreign Affairs and External Trade, engaged in a constructive dialogue aimed at exploring avenues for enhanced collaboration between their respective nations.

Amidst an atmosphere charged with diplomatic enthusiasm, delegates from both sides convened to deliberate on a spectrum of topics encompassing trade, investment, energy, culture, and beyond. The exchange of ideas and strategic initiatives aimed to deepen the existing partnership and pave the way for future endeavors that would benefit the citizens of both Azerbaijan and Hungary.

The joint session not only symbolized the commitment of both nations to fostering robust ties but also underscored the shared vision of prosperity and cooperation in the Eurasian region. As the discussions unfolded, it became evident that the Azerbaijan-Hungary Intergovernmental Commission served as a cornerstone for advancing bilateral relations, transcending geographical boundaries and cultural disparities to forge a path towards shared prosperity and sustainable development.

Cooperation in the energy sector with Azerbaijan increases Hungary’s energy security, Minister of Foreign Affairs and Trade of Hungary, Peter Szijjarto, said at the 10th meeting of the Azerbaijani-Hungarian intergovernmental commission in Baku.

“We have been friends and strategic partners for many years. Our friendship is based not only on interests, but also on common values,” he noted.

“According to our statistics, last year we broke the record for our trade. This gives us a good platform for expanding cooperation. The energy sector can be especially highlighted. Our cooperation has made a great contribution to ensuring the security of energy supplies to Hungary, which is even more important in the current conditions, than ever before,” Szijjarto added.

Trade relations between Azerbaijan and Hungary are developing, but this does not fully reflect the potential.

This was stated by Sahil Babayev, Minister of Labor and Social Protection, during the 10th session of the Azerbaijan-Hungary Intergovernmental Commission held in Baku.

According to him, there is extensive cooperation between Azerbaijan and Hungary in trade, energy, humanitarian, and other areas: "Strong political dialogue has been established between our countries."

The Minister reported that trade turnover with Hungary increased by 40.49% compared to the same period of the previous year in January-February of 2024.

Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary said that Hungary shows serious commitment to partnership with Azerbaijan.

"In this region, a fund with a capital of 50 million US dollars has been established to support investments. I would like to ask you to encourage your companies to continue supporting projects financed by this fund, just as we do," he emphasized.

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