During the 10th meeting of the Azerbaijani-Hungarian intergovernmental commission in Baku on April 25, Peter Szijjártó, the Foreign Affairs and Trade Minister of Hungary, announced that Hungary is formulating a strategy for its involvement in the rehabilitation efforts in Azerbaijan’s de-occupied regions. 

"By November 2024, we will finalize a plan detailing the sectors in which Hungarian businesses can contribute to the restoration activities in Karabakh," Szijjártó stated. Szijjártó emphasized Hungary's commitment to strengthening its partnership with Azerbaijan, mentioning the creation of a $50 million investment fund aimed at supporting regional development projects. He urged Hungarian and Azerbaijani companies to participate in projects financed by this fund.

A prominent Hungarian pharmaceutical company will start manufacturing up to 19 products in Azerbaijan next year, as outlined in a newly signed cooperation agreement, in collaboration to boost local production capabilities.

At a joint briefing with Sahil Babayev, the Minister of Labor and Social Protection of the Population of Azerbaijan, Szijjártó highlighted the commencement of the border delimitation process between Azerbaijan and Armenia as a positive step towards enhancing regional peace and prosperity. He reassured that Hungary stands ready to assist Azerbaijan in demining and other peace-promoting activities in the de-occupied territories.

Further supporting Azerbaijan's territorial integrity, Szijjártó mentioned that a major Hungarian construction firm had been awarded a contract to completely rebuild the Soltanli village in the Jabrayil district. The project encompasses the reconstruction of residential areas, public spaces, and garden plots. "The planning phase is underway and should conclude by the end of November, with the layout of residential zones expected by mid-August. Construction will commence following approval from the relevant authorities, and we anticipate seeing the first significant outcomes of these efforts by the end of next year," Szijjártó elaborated. He added that the construction of public spaces in the village has already started.