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Hungarian companies to participate in restoration of Azerbaijan’s liberated lands


Azerbaijan and Hungary have discussed Hungarian companies’ participation in restoration of Azerbaijan’s liberated territories.

The discussion took place during the meeting of Azerbaijan Labor and Social Protection Minister Sahil Babayev and Hungarian Ambassador to Viktor Szederkenyi on February 23.

During the meeting, the minister stressed that the willingness of the Hungarian companies to join the creative program in the liberated territories causes gratification.

Recalling the meeting with the Hungarian Minister of Foreign Affairs and Trade Peter Szijjártó in January, the minister underlined that EXIM Bank has opened a $100 million credit line for Hungarian companies intending to participate in the reconstruction program. In addition, noting the grant of € 25,000 ($30,330) offered by Hungary for demining activities, Babayev stressed that this is a manifestation of friendly relations between two countries.

Moreover, the minister underlined that bilateral relations between Azerbaijan and Hungary, based on friendly relations, are developing from year to year, with a steady growth of trade turnover, including imports and exports.

“As a result of mutual interest and efforts, these relations can be expected to expand in the near future,” Babayev added.

The minister also noted that the next positive step in cooperation was the signing of a new agreement with the Hungarian airline Wizz Air, which will continue flights between Azerbaijan and Hungary after the lifting of pandemic restrictions.

In turn, the ambassador emphasized that Hungary always supported Azerbaijan’s territorial integrity and is determined to expand relations with Azerbaijan.

The parties exchanged views on the current state and prospects of relations between the two countries, the activities of the bilateral commission and projects for the restoration of liberated territories.

It should be noted that the trade turnover between Azerbaijan and Hungary amounted to $38.8 million in 2020, with export amounting to $1 million and import to $37.7 million. In addition, trade turnover between the two countries amounted to $2.5 million in January 2021.

By Ayya Lmahamad

About Fidan Abdullayeva