Vietnam - Hungary traditional relationship reinforced

According to Mr. Phong, the visit to Hungary in September by Communist Party of Vietnam General Secretary and President Nguyen Phu Trong is evidence for the fact that Vietnam considers Hungary one of its leading partners in Eastern Europe, creating a foundation for multilateral relationship in the region, especially in economics and investment.

He added that the relationship between Ho Chi Minh city and Hungary has continuously developed. “However, the two-way trade turnover of USD40 million and 6 investment projects worth USD3.7 million to the city do not fill the potential,” he said.

As the EU-Vietnam Free Trade Agreement (EVFTA) will go into effect in 2019, Chairman Phong pledged to help Hungarian businesses have access to and cooperate with the Asia - Pacific market, welcoming foreign businesses, including Hungarian ones, to invest in the city, and expecting Hungary to make favourable conditions for Ho Chi Minh city’s investors to enter Hungary, thus coming to the Central - Eastern Europe market.

Informing about the results of working meetings with Vietnamese agencies and the 8^th meeting of the Vietnam - Hungary Joint Committee on Economic Cooperation, Mr. Csaba Balogh said that the results aim to turn the determination of two countries’ leaders into specific achievements of the comprehensive partnership.

He confirmed that Vietnam is Hungary’s most important partner in Southeast Asia, expressing his hope that Ho Chi Minh city will become a more and more important partner in southern Vietnam and in Southeast Asia.

He also said he believed that the EVFTA will create impetus for the two sides’ businesses to boost cooperation. “Hungary wants to increase investment and cooperation with Vietnam in production, breeding, food, healthcare and water,” he added./.