Friendship and available potential are considered an important foundation for promoting cooperation between Vietnam and Hungary, especially in trade and investment.

 

President Truong Tan Sang issued the statement while attending the Hungary-Vietnam Business Forum hosted by the two Chambers of Commerce and Industry on September 17, which attracted nearly 300 business representatives from both countries.

Despite diplomatic relations being established over 60 years ago, bilateral trade reached only US$120 million last year. The modest figure is still far from matching the fine relations between the two nations.

President Sang suggested the two sides cooperate in education-training, especially vocation training, agricultural production, husbandry, pharmaceuticals and energy and affirmed that Vietnam is willing to forge the best possible conditions for Hungarian businesses to invest in the Southeast Asian country.

In his speech, Hungarian Deputy Prime Minister Navracsics Tibor said his country’s exports account for 80-85 percent of European export volume. However Hungary attaches special importance to developing economic and trade links with traditional friends, including Vietnam - a fast growing nation which plays an important role in ASEAN.

Economic ties based on the foundation of friendship will bring lower costs and strengthen more reliable cooperation for mutual benefit, he noted.

President Sang called on enterprises to intensify cooperation and regular exchange, adding that the business forum is a useful channel for them to seize cooperation opportunities and work out specific cooperation plans in the future.

Vietnam places great value on cooperation with traditional friends including Hungary. Cooperation between the two countries helps not only strengthen connectivity and expand cooperation networks but also support Hungarian businesses in penetrating the ASEAN and Asian markets as well as Vietnamese counterparts’ greater penetration to the EU market, Sang said.

At the forum, both sides signed three cooperation documents between the two Chambers of Commerce and Industry and other institutions. On the same day, President Sang made fact-finding tours of some agricultural breeding farms and pharmaceutical factories and met representatives from Hungary’s scientific circle before concluding his trip to Hungary.

VOV