Iran and Hungary have a long history of a mutually beneficial economic and financial partnership, Minister for National Economy Mihály Varga stated when he met with Iran’s Minister of Health and Medical Education Ghazizadeh Hashemi in Budapest.

The fact that the volume of bilateral trade gained more than 65 percent in the period January-November 2017 signals there are great opportunities in Iranian-Hungarian relations, he said. At the meeting, an MoU was signed by representatives of the National Accreditation Authority and Iran’s Food and Drug Administration.


Following the talks, Mihály Varga said that the establishment of the Economic Joint Committee had been a milestone in terms of the development of bilateral relations as it provided an adequate institutional framework for defining common objectives. Existing health industry relations must be further improved, and the next session scheduled for the second half of 2018 in Tehran will be a great opportunity for that, the Minister added.

One of the achievements of the cooperation between the two countries has been the MoU signed by the Ministry for National Economy and Iran’s Ministry of Health and Medical Education last December, he pointed out.


In the first eleven months of 2017, the value of bilateral trade exceeded USD 45 million; Hungarian enterprises exported mainly pharma and paper products to Iran but there has also been growing interest in Hungarian fruits and vegetables, the Minister said.

“Today we could also share our experiences on promoting investment,” the Minister noted.

(Ministry for National Economy)