Hungary, Azerbaijan to expand cooperation in pharmaceuticals


National Economy Minister Mihály Varga and his Azeri counterpart Shahin Mustafayev agreed to expand their two countriesʼ cooperation in pharmaceuticals and diversify in other areas as well, at a meeting in Baku on Saturday, the National Economy Ministry said.

Hungarian companies are prepared to participate in the development of pharmaceutical production in Azerbaijan and are interested in setting up joint ventures, Varga said after the talks. Pharmaceuticals accounted for almost half of the more than $65 million in Hungarian exports to Azerbaijan last year, he added. 

Varga proposed spreading the cooperation in pharmaceuticals to other sectors in a bid to boost trade. He added that the launch of a direct flight between Baku and Budapest at the end of March would support better business ties as well as boost tourism.

Varga also signed a declaration of intent on sharing information and experience on employment with Azerbaijanʼs labor minister Salim Muslimov.


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