Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) met with the delegation headed by State Secretary of Hungary, Co-chairman of the Intergovernmental Commission on economic cooperation between Azerbaijan-Hungary Peter Szijjarto on July 23, 2012.

Mr. Movsumov briefed the guests on the Fund's activity, and major projects financed by the Fund.

The current economic relations between Azerbaijan and Hungary and development perspectives of these relations were discussed at the meeting.