Péter Szijjártó participated in the India Europe Business and Sustainability Conclave.Continue reading
Hungary and Iran are both interested in developing economic cooperation in areas not affected by sanctions, such as the pharmaceutical, health, food, and water management industries, Foreign Minister Péter Szijjártó said on Thursday in Tehran at the Hungarian-Iranian Business Forum. The politician also announced that the two countries have signed a new agreement on agriculture that will open up trade opportunities in the agricultural and food sector.
Speaking at a press conference following a meeting of the Iranian-Hungarian Joint Commission on Economic Cooperation, the minister underlined that the global tensions have resulted in extensive sanction regimes that now hamper the smooth functioning of world trade and the global economy. Accordingly, he said that the development of relations between Hungary and Iran should also take into account the international restrictions imposed on the Persian state.
The sanctions regime leaves areas open in which Hungarian companies have the world’s leading technologies (…) And this allows us to develop Hungarian-Iranian economic cooperation in the most technologically advanced Hungarian sectors,”
he stressed.
He said that despite the serious security and economic challenges, the value of bilateral trade turnover in 2022, exceeded USD 50 million, and the level last year was about the same. He noted the common goal is to maintain this volume and to expand it continuously where possible.
In a joint briefing with his Iranian counterpart, the Hungarian politician welcomed the entry into force of the investment protection agreement between the two countries, providing legal certainty for companies. He also said that thanks to this agreement, the parties would also help to remove obstacles to cooperation through more active collaboration between customs and tax authorities.
Furthermore, the new Hungarian-Iranian agricultural cooperation agreement
can open up the possibility of even more active access to the Iranian market for high quality Hungarian agricultural technologies and food products,”
he announced.
He said that domestic pharmaceutical and medical technology products have already enjoyed considerable recognition in the Middle Eastern country, and that an even wider presence is expected in the future. Turning to cooperation on water, the Minister added: “We have already contributed to expanding access to clean drinking water in Iran with Hungarian technologies, and discussions are underway to introduce more and more Hungarian water technologies here in Iran.” The politician noted that the agreement to issue 5,500 transport permits to each other’s companies every year will be maintained to ease trade barriers.
Via MTI, Featured image: Facebook/Szijjártó Péter