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Great Opportunities Ahead for Cooperation with Azerbaijan

MTI-Hungary Today 2023.02.20.
Azerbaijan Hungary
Azeri Minister for Employment Sahil Babayev and Péter Szijjártó in Budapest

The foreign minister spoke about the opportunities for cooperation between Hungary and Azerbaijan at two events in Budapest.

Speaking on Friday after the ninth meeting of the Hungarian-Azeri Economic Cooperation Committee, Minister of Foreign Affairs and Trade Péter Szijjártó said that Hungarian-Azeri cooperation is on the verge of making significant progress in two strategic areas:

  • natural gas supplies from Azerbaijan to Hungary may start this year
  • an agreement has been reached on the participation of Hungarian companies in the reconstruction of Nagorno-Karabakh.

He pointed out that Azerbaijan’s role in our country’s energy security will be significantly strengthened. “The political agreement has been concluded and the technical and commercial conditions are in place for gas supplies from Azerbaijan to Hungary to start this year,” he said.

He stressed that around 100 million cubic meters of Azerbaijani gas can be expected by the end of the year, and that a political agreement has been reached to supply 1-2 billion cubic meters per year thereafter under a long-term contract.

Under the agreement between the parties, Hungarian companies will also be involved in the reconstruction of the Nagorno-Karabakh region after the devastation caused by the war. “In terms of transport infrastructure, health care, public services, and the construction of institutions, a group of Hungarian companies has been established and is ready to participate in the reconstruction and rehabilitation of Karabakh,” he said.

Speaking at the Hungarian-Azerbaijani Business Forum, Szijjártó said that a strategic partnership has undoubtedly been established between Hungary and Azerbaijan, and everything is in place for the companies of the two countries to benefit from this cooperation.

According to Szijjártó, the representatives of the governments have created the most important conditions for cooperation between the economic players: among other things, there are no open political issues, the legal and financial conditions are in place, and Wizz Air operates direct flights between Budapest and Baku twice a week.

Azerbaijani President Ilham Aliyev visited Budapest last month.

Key Partnership Established between Hungary and Azerbaijan
Key Partnership Established between Hungary and Azerbaijan

As Prime Minister Viktor Orbán put it: "we have raised the level of cooperation with Azerbaijan one step higher."Continue reading

Featured photo via Facebook/Szijjártó Péter

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