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Azerbaijan-Hungary economic commission meeting held, protocol signed-UPDATED

05 September 2025 16:52 (UTC +04:00)

On September 5, the 11th meeting of the Joint Commission on Economic Cooperation between the Governments of Azerbaijan and Hungary was held in Budapest, the capital of Hungary, the Ministry of Finance told APA-Economics.

According to the information, at the meetings held by the the co-chairs of the Commission — Azerbaijan’s Minister of Finance Sahil Babayev and Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó — both in one-on-one and expanded formats prior to the session, the current state of bilateral cooperation and opportunities for its expansion were discussed and the comprehensive agenda of the upcoming Joint Commission meeting, covering trade, economy, investment, energy, and other areas.

After the meeting concluded, a protocol on the outcomes of the 11th session of the Joint Commission on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of the Republic of Hungary was signed by S. Babayev and P. Szijjártó, and the “2025–2027 Action Plan between the Food Safety Agency of the Republic of Azerbaijan and the Ministry of Agriculture of Hungary,” and a “Memorandum of Understanding between the Azerbaijan Medical University, the University of Pécs (Hungary), SCANDENS PHARMACEUTICALS INDUSTRIES LTD., and PANNONPHARMA” were signed by authorized representatives of the relevant institutions of both parties.

Afterwards, the co-chairs answered questions from members of the press.

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15:42

The 11th meeting of the Azerbaijan-Hungary Intergovernmental Commission on Economic Cooperation was held in Budapest, Hungarian Foreign Minister Péter Szijjártó announced, APA reports.

Szijjártó recalled that when the two countries established a partnership based on mutual respect 15 years ago, some European leaders initially ridiculed the initiative. “Today, those same leaders are lining up in Baku to take photos with the President of Azerbaijan,” he said.

The minister added that the cooperation has yielded significant results for Hungary in energy, pharmaceuticals, agriculture, and construction. Central and Eastern Europe’s leading integrated oil and gas companies, MOL Group and MVM, now hold stakes in Azerbaijan’s largest oil and gas fields, shifting from simple buyers on the international market to energy producers.

Azerbaijan Hungary economic cooperation energy oil and gas agriculture pharmaceuticals construction MOL Group MVM international relations Budapest intergovernmental commission