Azerbaijan-Hungary Intergovernmental Commission Marks Milestone In Baku Summit

Against the backdrop of strengthening diplomatic ties betweenAzerbaijan and Hungary, the joint session of the Azerbaijan-HungaryIntergovernmental Commission convened in the vibrant city of Baku,marking a significant milestone in bilateral relations, Azernews reports.

The gathering served as a platform for both nations to delveinto crucial matters of mutual interest, fostering economiccooperation and cultural exchanges.

Prior to the commencement of the official session, a pivotalone-on-one meeting set the stage for substantive discussions. Theesteemed co-chairs of the Commission, Sahil Babayev, Minister ofLabor and Social Protection of the Republic of Azerbaijan, andPeter Szijjarto, Hungarian Minister of Foreign Affairs and ExternalTrade, engaged in a constructive dialogue aimed at exploringavenues for enhanced collaboration between their respectivenations.

Amidst an atmosphere charged with diplomatic enthusiasm,delegates from both sides convened to deliberate on a spectrum oftopics encompassing trade, investment, energy, culture, and beyond exchange of ideas and strategic initiatives aimed to deepen theexisting partnership and pave the way for future endeavors thatwould benefit the citizens of both Azerbaijan and Hungary.

The joint session not only symbolized the commitment of bothnations to fostering robust ties but also underscored the sharedvision of prosperity and cooperation in the Eurasian region. As thediscussions unfolded, it became evident that the Azerbaijan-HungaryIntergovernmental Commission served as a cornerstone for advancingbilateral relations, transcending geographical boundaries andcultural disparities to forge a path towards shared prosperity andsustainable development.

Cooperation in the energy sector with Azerbaijan increasesHungary's energy security, Minister of Foreign Affairs and Trade ofHungary, Peter Szijjarto, said at the 10th meeting of theAzerbaijani-Hungarian intergovernmental commission in Baku.

“We have been friends and strategic partners for many years. Ourfriendship is based not only on interests, but also on commonvalues,” he noted.

“According to our statistics, last year we broke the record forour trade. This gives us a good platform for expanding cooperation energy sector can be especially highlighted. Our cooperationhas made a great contribution to ensuring the security of energysupplies to Hungary, which is even more important in the currentconditions, than ever before,” Szijjarto added.

Trade relations between Azerbaijan and Hungary are developing,but this does not fully reflect the potential.

This was stated by Sahil Babayev, Minister of Labor and SocialProtection, during the 10th session of the Azerbaijan-HungaryIntergovernmental Commission held in Baku.

According to him, there is extensive cooperation betweenAzerbaijan and Hungary in trade, energy, humanitarian, and otherareas: "Strong political dialogue has been established between ourcountries."

The Minister reported that trade turnover with Hungary increasedby 40.49% compared to the same period of the previous year inJanuary-February of 2024.

Peter Szijjarto, Minister of Foreign Affairs and Trade ofHungary said that Hungary shows serious commitment to partnershipwith Azerbaijan.

"In this region, a fund with a capital of 50 million US dollarshas been established to support investments. I would like to askyou to encourage your companies to continue supporting projectsfinanced by this fund, just as we do," he emphasized.

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