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Azerbaijani companies can play mediating role for Hungarian companies in Iran

Azerbaijani companies can play mediating role for Hungarian companies in Iran Investment

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Azerbaijan and Hungary can jointly work in Iran, Azerbaijan’s Economy Minister Shahin Mustafayev said.

He made the remarks during Azerbaijan-Hungary business forum in Baku March 6.

The business forum is being held during the visit of Hungarian Prime Minister Viktor Orban to Baku.

Over 50 representatives of Hungarian companies operating in agriculture, ICT, construction, renewable energy sources, industrial production, tourism, light industry, consulting and etc. are participating in the event.

“We have great opportunities to cooperate in investment sphere. We believe that there is a great mutual interest in this field,” said the minister.

“I would like to emphasize the possibilities of investing in third countries,” said Mustafayev, adding that from this point of view, work has already been done in Iran on lifting the sanctions.

“During the post-sanctions period, we can consider joint activities in this country,” he added.

The minister noted that Azerbaijani are companies already operating in Iran and vice versa.

“Therefore, we are well aware of the situation in Iran,” said Mustafayev. “Taking into account a number of other factors as well, our companies can play a mediating role for Hungarian companies in Iran.”

The minister pointed out that given the fundamental reforms carried out in Azerbaijan, investing in this country become more relevant.

The trade turnover between Azerbaijan and Hungary in 2015 totaled $27.96 million, of which over $27.7 million accounted for the import of Hungarian products, according to Azerbaijan’s State Customs Committee.

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