Azerbaijan, Hungary inks agreement to establish joint business council

Azerbaijan and Hungary inked an agreement on the establishment join a business council, Azernews reports citing the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan.

On February 16-17, 2023, the 9th meeting of the Joint Commission on Economic Cooperation between the governments of Azerbaijan and Hungary was held in Budapest, the capital of Hungary, Azernews reports.

According to the Confederation, Jala Hajiyeva the Vice President of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan, participated in the meeting of the Joint Commission.

“Within the framework of the meeting, as a continuation of the Memorandum of Understanding signed by the Confederation of Entrepreneurs of Azerbaijan and the Hungarian Chamber of Commerce and Industry in 2019 to promote the development and diversification of economic and trade cooperation, an agreement was inked on the establishment of the Azerbaijan-Hungary Joint Business Council to further expand trade and economic relations between our countries,” the Confederation said.

According to the agreement, the parties have defined the objectives of the Council and the tasks for the formation of the working group. The purpose of establishing the council is to promote joint investments in Azerbaijan and Hungary, to increase mutual trade turnover, and to achieve a solution to the issues related to economic relations.