OREANDA-NEWS. June 29, 2016. “Hungary regards Azerbaijan as a key partner with reference to economic relations and Europe’s energy security”, Minister of Foreign Affairs and Trade said following negotiations in Baku .

In a statement to Hungarian news agency MTI, he said that with relation to Europe’s gas supply Azerbaijan is the only country that is capable of including new resources into the European supply system in the short term. “Energy security plays an important role in Central Europe, and accordingly Hungary regards cooperation between Europe and Azerbaijan as particularly important”, he said.

“In two years’ time, in 2018, Azerbaijani natural gas shipments will begin moving towards the west, and it is in Hungary’s interests to connect to the southern gas corridor that will be transporting the gas to Europe”, the Hungarian Foreign Minister explained, adding that “In view of Azerbaijan’s role in economic relations and energy security, Hungary is calling for the European Union to conclude a strategic partnership agreement with Baku as soon as possible”.

“Within the field of bilateral relations, Azerbaijan is prepared to become an international target country for Hungarian enterprises”, he said. “According to the agreement we have just concluded, this may be realised in four areas, one of which is the development of infrastructure along the 162 kilometre missing section of the railway line connecting Northern Europe with the Persian Gulf in the vicinity of the Iran-Azerbaijan border”, he explained, adding that “The cost of the project is estimated at around half a billion euros. The Azerbaijani Government is open to allowing Hungarian enterprises to take part in the construction of this section of railway line if Hungary is prepared to contribute to financing the project”, he added.

Further areas of cooperation would open up if the Azerbaijan national oil company and one of the world’s largest energy corporations Socar were to involve MOL in its land and sea exploration activities, which would create a new international market for the Hungarian oil company. The third area of cooperation is agriculture and it was agreed at the meeting that Azerbaijan would be increasing its imports of Hungarian cattle in the near future, Mr. Szijj?rt? said.

Furthermore, Hungary has offered two hundred scholarships for Azerbaijani students to attend Hungarian universities and six hundred have already applied for the 2016-2017 academic year, the Hungarian Minister of Foreign Affairs and Trade said in closing.