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Azerbaijani-Hungarian Business Forum Due in Baku

Azerbaijani-Hungarian Business Forum Due in Baku

An Azerbaijani-Hungarian business forum will be held in Baku on March 6 within the framework of the visit of Hungarian Prime Minister Viktor Orban to the country, Azerbaijan Export and Investments Promotion Foundation (AZPROMO) reported.

The forum will be organized by AZPROMO with the support of the Ministry of Economy of Azerbaijan. Over 50 representatives of Hungarian companies representing spheres of agriculture, ICT, construction, renewable energy sources, industrial production and equipment, tourism, light industry, aviation, consulting, etc. will take part in the event.

In 2015, the trade turnover of Azerbaijan with Hungary amounted to $27.96 million, of which the import of Hungarian products accounted for over $27.7 million, according to the State Customs Committee of Azerbaijan.

The sides enjoy a huge capacity for the development of trade and economic cooperation, as Hungarian companies consider the Azerbaijani market as an alternative to the Russian market, on the background of EU sanctions. Hungary is also a good platform for Azerbaijani investors. So far, the two countries have signed almost 40 documents. Moreover, the governments of both countries have expressed interest in increasing bilateral trade.