Iran calls for boosting political, economic ties with Hungary

TABNAK: Iranian interim President Mohammad Mokhber in a meeting with Hungary Ambassador to Iran Gyula Pethő said, “Political ties between the two countries need to be backed by expanding economic and commercial interactions and transactions which need serious efforts and pursuit by officials of the two sides.”

Gyula Pethő, for his part, highlighted deep cultural ties between Tehran and Budapest, and called for exchanging commercial delegations to boost bilateral economic ties.

In November 2022, Iran and Hungary signed a comprehensive cooperation document at the end of the third meeting of the two countries' Joint Economic Committee held in Budapest.

The protocol of the third Iran and Hungary Joint Economic Committee meeting was signed by the Iranian Finance and Economic Affairs Minister Ehsan Khandouzi and the Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó.

The ministers who co-chaired the meeting, referred to a 55-percent increase in bilateral trade between the two countries in the time span between the second and the third Joint Economic Committee meeting, saying that this is a good sign and an indication of the committee’s significance.

Iran and Hungary had signed a memorandum of understanding for the expansion of economic cooperation in late 2021.

The MOU was signed by Khandouzi and Szijjártó on the sidelines of the two countries' second Joint Economic Committee meeting in Tehran on December 17.

The MOU covered a variety of areas including cooperation in the fields of water treatment, seeds, power plants, animal feed and construction materials, and joint investment opportunities.