Azerbaijan, Hungary explore prospects of economic collaboration

Azerbaijani Economy Minister Mikayil Jabbarov met with Gellért Jászai, Ambassador Extraordinary and Plenipotentiary of Hungary for the Development of International Business Relations and Chairman of 4iG Space and Defence Technologies Plc., Report informs, citing the ministry.

During the meeting, the parties discussed the expansion of economic cooperation.

They also highlighted the successful development of Azerbaijan-Hungary economic and trade relations, especially existing connections in the energy sector.

At the same time, the sides stressed the importance of mutually beneficial cooperation, as well as discussed future partnership prospects.

Additionally, Azerbaijan's favorable business environment was noted. It was stated that 4iG Space and Defence Technologies Plc. is interested in investing in Azerbaijan's developing ecosystem.

The parties exchanged views on expanding trade and investment, transport-transit cooperation, establishing joint ventures in industrial zones, and technology transfer opportunities.

4iG Group is Hungary's information technology (IT) and telecommunications company. Its main areas of activity include IT services, telecommunications, satellite technologies, and space industry.