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Sahil Babayev: Azerbaijan-Hungary trade turnover reaches $24.39 million for Jan-Sept

23.10.2019,13:10


October 23, Fineko/abc.az. Trade turnover between Azerbaijan and Hungary for Jan-Aug 2019 amounted to $24.39 million, including import for $23.85 million and export for $540,000.

The statement was made by Minister of Labor & Social Protection Sahil Babayev at a reception on the occasion of the national holiday of Hungary, organized by this country’s embassy in Azerbaijan.

Babayev points out that in 1995-2019 Hungary invested $23.2 million in Azerbaijan, while Azerbaijan invested $12 million in Hungary. An important work in this direction is the visit to Hungary of Azerbaijan’s export mission to promote brand "Made in Azerbaijan" in 2017, as well as the appointment of Azerbaijan’s trade representative for Central Europe, including Hungary. Those measures will make positive contribution to the development of trade relationships.

11 Hungarian companies in the sphere of trade, transport, agriculture, and services are operating successfully in Azerbaijan. Babayev stressed wide opportunities for cooperation in the investment sphere. He noted that the restoration of direct flights between the two countries since March 2016 contributed to the expansion of cooperation in the field of business and tourism.