Azerbaijan, Hungary discuss cooperation in SMBs sector

By Azernews

By Ayya Lmahamad

Azerbaijan and Hungary have discussed the cooperation between the two countries in the SMBs sector, Azernews reports.

The discussion took place during a meeting between Azerbaijani Small and Medium Business Development Agency Board Chairman Orkhan Mammadov and Hungarian Ambassador Tamas Jozsef Torman.

During the meeting, the parties exchanged views on such issues as the organization of joint events related to SMBs cooperation, as well as the expansion of ties between the business communities of both countries.

"Had a fruitful introductory meeting with the newly appointed Ambassador of Hungary to Azerbaijan Mr. Tamas Jozsef Torma. Discussed enhancing #business cooperation and joint development programs with #KOB?A. Would like to wish Mr. Ambassador success in his tenure in Azerbaijan," Orkhan Mammadov tweeted.

The diplomatic relations between the two nations were established on November 27, 1992. The Hungarian embassy in Azerbaijan was established in January 2009, while the embassy of Azerbaijan was opened in Hungary in September 2004.

Around 50 documents have been signed between the two countries. Azerbaijan and Hungary have also had fruitful cooperation within international and regional organizations. Hungary signed a strategic partnership agreement with Azerbaijan on November 11, 2014.

The trade turnover between the two countries totaled $35.1 million in 2021.