The foreign minister said all conditions are in place for Hungarian and Azeri businesses to profit from the strategic partnership between the two countries.
Addressing a Hungarian-Azeri business forum in Budapest, Péter Szijjártó, Minister of Foreign Affairs and Trade, said: “We would like for more Hungarian and Azeri economic players to profit from the strategic partnership between the two countries. Especially now when the global economy has turned upside down for the second time in a very short period.” Minister Szijjártó welcomed that there were no unresolved political issues between Hungary and Azerbaijan. Financial conditions are also in place, he said, noting that Hungary’s Eximbank has opened a 140 million dollar credit line to finance cooperation between Hungarian and Azeri businesses. As regards legal conditions, the minister said agreements between the two countries were secure thanks to an investment protection agreement that is in effect. Minister Szijjártó noted Hungarian oil and gas company MOL’s significant investments in Azerbaijan as well as drugmaker Richter’s increased presence on the Azeri market. Azerbaijan will soon become a contributor to Hungary’s energy security, as Hungary is set to start receiving Azeri natural gas this year, he said.