“Vietnam has been a traditional partner of Hungary in Southeast Asia, and we regard the country’s economic development and achievements with great respect”, Minister of Finance Mihály Varga said. The Minister received CPV Central Committee member and Central Economic Commission Chairman Nguyen Van Binh in his office.

In 1950, Hungary was among the first countries to have established diplomatic relations with Vietnam. “Over the past years, cooperation between our countries has step-by-step become modern, multifaceted and multidimensional, and we are both determined to continue to improve it,” he added.

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“The change in the economic and trade relations which exist between Hungary and Vietnam give us reason for high hopes”, he said. In 2017, the volume of bilateral trade was up by 79 percent year-on-year, totalling USD 357 million (EUR 297 million). The pace of growth has remained unchanged in 2018. “I hope and believe that in the coming years the volume of exports from Hungary to Vietnam will increase as dynamically as the volume of exports from Vietnam to Hungary did,” Mihály Varga stressed.

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The fields where the Government of Hungary sees the best chances for fostering closer economic cooperation are the agricultural and food industries, the pharmaceuticals and chemicals sectors, water management, healthcare, info-communication, machinery manufacturing, defence industry, environmental protection and renewable energy, the Minister noted.

(Ministry of Finance)