There are 26 companies with Hungarian capital operating in Azerbaijan.
As Day.Az reported on Monday with reference to Trend, the Minister of Labor and Social Protection of the Population said this Sahil Babaev at a gala event in honor of the National Day of Hungary – the anniversary of the Hungarian revolution of 1956.
“More than 60 documents signed between Azerbaijan and Hungary to date create a solid legal basis for bilateral cooperation. Our countries support each other in international and regional organizations, and also share similar views on global and regional issues.
Economic ties between the two countries are showing steady growth dynamics. Currently, 26 companies with Hungarian capital operate in Azerbaijan,” Babayev noted.
The minister emphasized that the 30 percent increase in trade turnover between the two countries over the past 8 months is a clear example of the strength of bilateral economic relations.
“Cooperation between Azerbaijan and Hungary in the field of traditional and green energy has also moved to a new stage,” Babayev added.
According to him, Azerbaijan expects Hungary’s active participation in COP29.
“We are confident that our Hungarian friends will make a significant contribution to the success of this conference,” the minister said.