Budapest, April 21 (MTI) – The joint economic committee of Hungary and Azerbaijan started a regular session on Tuesday, with energy cooperation high on its agenda, the foreign ministry told MTI.
Issues around energy cooperation include participation of Hungarian energy company MVM and oil firm MOL in Azeri projects, as well as schemes concerning the transportation of Azerbaijan’s gas to central Europe, the ministry’s statement said.
Peter Szijjarto, Hungary’s foreign minister, and Azeri counterpart Shahin Mustafayev are participating in the event.
Economy Minister Mihaly Varga held talks with Mustafayev about ways to expand Hungarian-Azeri economic ties, the ministry said in a statement.
The ministers were in agreement that cooperation should be further expanded in the pharmaceuticals and health industries. Hungarian companies are ready to participate in developing Azeri pharmaceuticals production and have expressed interest in setting up joint ventures. Varga said the modern technologies employed by Hungarian companies can form the basis of an expansion of economic relations.
Azerbaijan is Hungary’s top trading partner in the Caucasus. Bilateral trade turnover rose by 8 percent last year, the foreign ministry said in a statement.