Armenia and Hungary to sign economic cooperation agreement

The Cabinet has approved the signing of an economic cooperation agreement with Hungary, ARMENPRESS reports.

The agreement was approved during the Cabinet meeting on Thursday.

It envisages the expansion of bilateral economic ties between Armenia and Hungary aimed at the development of mutually beneficial cooperation.

The agreement allows the development of cooperation in trade, pharmaceuticals, tourism, energy, transport, agriculture, forestry, research and innovation, environmental protection and water resource management.

Other areas of mutual interest will also be included in the cooperation.

The agreement envisages promotion of bilateral trade-economic cooperation, creation of an intergovernmental economic commission between the two countries to organize and encourage mutual economic programs and create new business opportunities to fully utilize the potential of the two economies.

Earlier it was reported that Kazakhstan's Foreign Minister Murat Nurtleu discussed bilateral cooperation with his Tajik and Armenian counterparts.