Azerbaijan, Hungary establish Joint Business Council

Budapest, The Gulf Observer: An agreement on the establishment of the Joint Azerbaijan-Hungary Business Council has been signed on the sidelines of the 9th meeting of Azerbaijan-Hungary Joint Intergovernmental Commission on economic cooperation held in Budapest, the capital city of Hungary, media reports.

According to Azerbaijan`s National Confederation of Entrepreneurs, the document aims to strengthen economic and trade ties between the two countries, as a follow-up to the Memorandum of Understanding between the Azerbaijan Confederation of Entrepreneurs (Employers) and the Hungarian Chamber of Commerce and Industry that was signed in 2019 to promote the development and diversification of economic and trade cooperation.

The Joint Business Council, which includes the representatives of both countries, aims to promote joint investment projects in Azerbaijan and Hungary, increase mutual trade turnover, as well as address emerging issues related to economic ties.