Szijjártó said Hungary is interested in developing stronger ties between Azerbaijan and the EU. Specifically, Hungary’s strength in agriculture should be leveraged in building greater agricultural ties with Azebaijan, he noted.
Hungary is also considering the allocation of a loan to build a 160 kilometer road connecting Azerbaijan with Iran, Szijjártó said. Hungarian Eximbank has set aside €200 million for small- and medium-sized entrepreneurial ventures in Azerbaijan, and is preparing to grant €5 million to the Azerbaijan-based PASHA bank, he continued.
“We have strategic partnerships. One of these documents was about abolishment of double taxation and joint protection and promotion of investments,” Azerbaijan’s Minister of Economy and Co-chair of the commission, Shahin Mustafayev told the Associated Press regarding the meeting.
Six companies from Hungary currently operate in Azerbaijan, and trade turnover between the two countries increased by 63% year on year, Mustafayev continued.
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