Hungary, Azerbaijan agree to expand cooperation in pharmaceuticals

Budapest, March 5 (MTI) – Hungary’s Economy Minister Mihály Varga and his Azeri counterpart Shahin Mustafayev agreed to expand their countries’ cooperation in pharmaceuticals and broaden it to other areas, too, at a meeting in Baku on Saturday, the economy ministry reported.

Hungarian companies are prepared to participate in the development of pharmaceutical production in Azerbaijan and are interested in setting up joint ventures, Varga said after the talks. Pharmaceuticals accounted for almost half of the more than 65 million dollars of Hungarian exports to Azerbaijan last year, he added.

Varga proposed spreading the cooperation in pharmaceuticals to other sectors in a bid to boost trade. He added that the launch of a direct flight between Baku and Budapest at the end of March would support better business ties as well as boost tourism.

Varga also signed a declaration of intent on sharing information and experience on employment with Azerbaijan’s labour minister Salim Muslimov.

Varga is in Baku for two days, travelling with a delegation led by Prime Minister Viktor Orbán.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters