Budapest hosts 11th session of Azerbaijan-Hungary Intergovernmental Commission on Economic Cooperation

The 11th session of the Joint Commission on Economic Cooperation between the Governments of Azerbaijan and Hungary was held today in the capital of Hungary, Budapest.

Prior to the meeting, the Azerbaijani delegation visited the embassy of the country in Hungary and laid flowers at the monument of National Leader Heydar Aliyev.

First, the co-chairs of the Commission - Sahil Babayev, Minister of Finance of Azerbaijan, and Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary - held one-on-one and expanded meetings to discuss the current state of bilateral cooperation and prospects for enhancing the existing ties. The sides also reviewed the extensive agenda of the regular meeting of the Joint Commission, encompassing trade, economy, investment, energy and other areas.

Speaking at the meeting with the participation of delegations, Sahil Babayev emphasized that relations between the two countries have been consistently enhancing in various areas based on the principles of strategic partnership, mutual trust and respect. The minister described the participation of Hungarian Prime Minister Viktor Orban in the 2024 Summit of the Organization of Turkic States in Shusha and COP29 in Baku, as well as the recent visit of President of Azerbaijan Ilham Aliyev to Hungary this May, as a clear indicator of the friendship and strategic partnership between the two countries.

In his remarks, the minister also highlighted the successful outcomes of interaction in trade, investment, energy, transport, tourism, restoration of liberated territories, and humanitarian cooperation.

He also noted that new initiatives, specifically transport corridors and the "Green Energy Corridor," announced as part of the Armenia-Azerbaijan peace process, present significant regional opportunities for cooperation. Minister Sahil Babayev emphasized that the Azerbaijan-Hungary Intergovernmental Joint Commission plays a crucial role in fostering economic partnership, and that the outcomes of the 11th meeting held in Budapest with a broad agenda covering trade, business, investment, energy, labor, education, healthcare, and more between the two countries could be productive.

Highlighting fruitful cooperation between Azerbaijan and Hungary, which is based on mutual respect and benefit, Péter Szijjártó emphasized that this cooperation encompasses the most strategic areas. The Hungarian minister described cooperation with Azerbaijan in energy sector as a priority in Hungary’s economic policy.

Following the meeting, the protocol on the outcomes of the 11th session of the Joint Commission on Economic Cooperation between Azerbaijan and Hungary, as well as the Action Plan for 2025-2027 between the Food Safety Agency of the Republic of Azerbaijan and the Ministry of Agriculture of Hungary, the Memorandum of Understanding between Azerbaijan Medical University, the University of Pécs, as well as Scandens Pharmaceuticals Industries Ltd and Pannonpharma, were signed by authorized representatives of the relevant institutions of both parties.

The co-chairs then responded to journalists’ questions.

The Joint Commission on Economic Cooperation between the Government of Azerbaijan and the Government of Hungary was established in accordance with Article 4 of the “Agreement on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of Hungary” signed in Budapest on February 18, 2008.