GDP up 5.8% in January

10th meeting of the Azerbaijani-Hungarian intergovernmental commission on economic cooperation concluded in Baku with the signing of a new protocol, further cementing the robust partnership between the two nations. The document was signed by Sahil Babayev, Azerbaijan's Minister of Labor and Social Protection of the Population, and Péter Szijjártó, Hungary's Minister of Foreign Affairs and Foreign Trade.

Baku, the capital of Azerbaijan, has rapidly burst into the top three of the FDI Intelligence rating "The fastest growing cities with Foreign Direct Investment (FDI) in 2023",taking the honorable third place.

At the 4th meeting of the Working Group on Energy, held on November 24 in a mixed format at the Ministry of Energy, the deepening of energy ties between Azerbaijan and Hungary, especially in the field of green energy development, was emphasized. Zaur Mammadov, Co-chairman of the working group and Chief of Staff of the Ministry of Energy, stressed the strong political relations and fruitful results of high-level visits and numerous bilateral agreements.

At the Azerbaijan-Bashkortostan business forum held in Baku, significant cooperation agreements were signed between leading business entities from both regions, setting a foundation for enhanced bilateral trade and investment, particularly in the non-oil sectors.