AZERBAIJAN-HUNGARY BUSINESS FORUM HELD IN BAKU

Baku, July 8 (AzerTAj) - Hungary-Azerbaijan Business Forum organized by the Economic Development Ministry of Azerbaijan and the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) was held in Baku on Monday.

Azerbaijan`s Economic Development Minister Heydar Babayev spoke of his country`s achievements gained recent years. He said the country occupies one of the top places in the world for its economic development. According to him, $42 billion was invested in Azerbaijan`s economy from 1995 to 2007.

The Minister stressed the country`s currency reserves would see three fold increase in two years. According to him, Azerbaijan has become one of the leader countries in the post-soviet area for per capita investment.

“Opening of more than 650 thousand workplaces led to decrease in unemployment”, said Mr. Babayev.

The Minister also spoke of Azerbaijan-Hungary trade, economic relations. According to him, there is great potential to increase economic cooperation even more.

Hungarian Prime Minister Ferenc Gyurcsany, in turn, said the Forum would contribute to expanding economic cooperation between the two countries.

AZPROMO Director Anar Guliyev spoke of the prospects for business opportunities in Azerbaijan.

A memorandum of understanding was signed between the International Bank of Azerbaijan and Hungarian Export-Import Bank.

Following the event, bilateral meetings were held between Azerbaijani and Hungarian businessmen.