Hungarian economy development minister in Azerbaijan

Economy Development Minister Márton Nagy visited Azerbaijan on Friday, where he discussed current economic developments with Economy Minister Mikayil Jabbarov.

At the talks, Nagy praised the progression of Azeri-Hungarian ties even as the war in Ukraine and EU sanctions “severely harm the global economy by stoking distrust and uncertainty.” Azerbaijan is a strategic partner of Hungary, with bilateral trade at nearly 50 million dollars annually, he said.

Azerbaijan is also an important partner in ensuring energy security and sovereignty in Hungary, and part of the Solidarity Ring initiative designed to transport energy to southern and eastern Europe from Central Asia, he added. Nagy also signed a labour action plan with Sahil Babayev, the Minister of Labour and Social Protection of Population. The action plan aims to strengthen labour policy cooperation and sharing of best practices and experiences, he said.