Deputy Minister of Industry and Trade Hoang Quoc Vuong (L) and Hungarian Deputy State Secretary for Export Development at Ministry of Foreign Affairs and Trade Istvan Joo✅ (Photo courtesy of the Vietnamese Embassy in Hungary)
Budapest (VNA) – Vietnam and Hungary have agreed to boostcomprehensive collaboration across politics, economy-trade, science-technology,culture, tourism, finance, agriculture, and security-defence to mark the 70th anniversary of bilateral diplomatic relations (February 1950-2020).
The agreement was made during the 9th meeting of the Vietnam-HungaryJoint Committee on Economic Cooperation, co-chaired by Deputy Minister ofIndustry and Trade Hoang Quoc Vuong and Hungarian Deputy State Secretary forExport Development at Ministry of Foreign Affairs and Trade Istvan Joo, inBudapest on November 26.
At the meeting, Vuong and Istvan Joo highlighted socio-economic development in theirrespective countries in the past time, and reviewed bilateral cooperation resultssince the 8th meeting of the committee.
According to statistics from the General Department of Vietnam Customs, tradevalue between the two sides during January-October this year was estimated at611.6 million USD, a year-on-year surge of 17.58 percent.
Vietnam gained 340.79 million USD from exporting garment and textiles andtransport vehicles and spare parts, among others to the central Europeancountry. Meanwhile, the country splashed out 270.8 million USD on purchasingHungarian pharmaceutical products, chemical, machines and tools.
In the past year, both sides have worked together to carry out theircooperative documents in various sectors so as to boost collaboration in a morepractical and effective manner. Particularly, they made efforts to removebottlenecks for the construction of Can Tho Oncology Hospital after a long timeof hiatus.
Regarding the financial cooperation framework agreement worth 440 million EUR(484.7 million USD), they reached consensus on prioritised sectors of watermanagement, pharmaceutical-medical industry, IT, and technologies in theagricultural sector.
Besides, they will coordinate closely to accelerate the implementation ofprojects approved by the two governments.
On the occasion, Vietnam’s Ministry of Industry and Trade and the VietnameseEmbassy in Hungary organised the Vietnam-Hungary trade and investment promotionforum, drawing the participation of over 20 enterprises form both countries.
The 10th meeting of the Vietnam-Hungary Joint Committee on EconomicCooperation will take place in Hanoi, with specific dates and time to bediscussed via diplomatic channel./.
VNA
