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“Asia is rising unstoppably, and in this new world economic system.” Prime Minister Viktor Orbán emphasized the significant opportunity for Hungary, after the signing of multiple agreements between representatives of both countries at a meeting with Vietnamese Prime Minister Pham Minh Chinh in the Carmelite Monastery (the Hungarian Prime Minister’s official residence).
Viktor Orbán noted that Hungary’s policy of opening up to the East stemmed from the recognition that the global balance of power was shifting rapidly. These shifts present both opportunities and risks, making the visit of the Vietnamese Prime Minister crucial for Hungary.
Over the past decade, Hungarian economic data indicated a change, with Asian countries surpassing traditionally active Western nations in Hungary.
The Prime Minister Orbán expressed hope for increased trade and mutual investments between Hungary and Vietnam.
He highlighted the similarity in the political positions of both nations on the world map, fostering a collaborative mindset in addressing shared challenges.
Orbán congratulated Vietnam on its achievements, including job creation and successful free trade agreements with the European Union. He encouraged the Vietnamese Prime Minister to support increased Vietnamese investments in Hungary.
The collaboration encompasses agriculture, health, cultural exchange, academic cooperation, and investment promotion.
During his press statement, Prime Minister Pham Minh Chinh emphasized Vietnam’s commitment to an independent, multilateral foreign policy. He expressed a desire to deepen and enhance cooperation with Hungary, particularly in trade, defense, technology transfer, cyber crime prevention, education, culture, tourism, and labor training.
Prime Minister Viktor Orbán with Pham Minh Chin. Photo: Miniszterelnöki Sajtóiroda
Mr. Chinh urged diplomatic resolutions for territorial disputes in the South China Sea, emphasizing the importance of ensuring freedom of navigation and air routes. He thanked Hungary for providing favorable conditions to the Vietnamese community and expressed hope for granting them national minority status in Hungary.
Finally, Orbán indicated that a joint business and economic forum would be held on Friday.
After discussions with his Vietnamese colleague, Minister of Foreign Affairs and Trade, Péter Szijjártó, highlighted the significant opportunity for Hungary to surpass the record of exports to Vietnam, maintaining an annual figure of USD 100M. Following lengthy negotiations, decisions were made to notably increase exports of poultry products, medical devices, and medicines. Further growth is anticipated, with ongoing negotiations for the export of pork nearing completion.
Mr. Szijjártó emphasized the ambitious EU-Vietnam free trade agreement, aiming to eliminate 99% of duties by 2030, fostering increased trade between the two parties. Additionally, the countries are set to conclude a cooperation agreement covering various areas, including culture and water management, aiming to enhance exports of Hungarian technologies.
Via MTI; Featured Image: MTI / Miniszterelnöki Sajtóiroda