Hungarian-Azerbaijani joint committee meets to discuss energy coop

Issues around energy cooperation include participation of Hungarian energy company MVM and oil firm MOL in Azeri projects, as well as schemes concerning

the transportation of Azerbaijan's gas to central Europe, the ministry's statement said.

Peter Szijjarto, Hungary's foreign minister, and his Azeri counterpart Shahin Mustafayev are participating in the event.

Economy Minister Mihaly Varga held talks with Mustafayev about ways to expand Hungarian-Azeri economic ties, the ministry said in a statement.

The ministers were in agreement that cooperation should be further expanded in the pharmaceuticals and health industries. Hungarian companies are ready to

participate in developing Azeri pharmaceuticals production and have expressed interest in setting up joint ventures. Varga said the modern technologies

employed by Hungarian companies can form the basis of an expansion of economic relations.

Azerbaijan is Hungary's top trading partner in the Caucasus. Bilateral trade turnover rose by 8 percent last year, the foreign ministry said in a

statement.