Hungarian and Turkish Ministers for Industry, Technology meet in Budapest

Márton Nagy, Hungary’s economic development minister, met Mehmet Fatih Kacir, Türkiye’s new industry and technology minister, and Omer Bolat, the trade minister.

The meeting was held on the sidelines of a meeting of the Hungarian-Turkish High-Level Strategic Cooperation Council, convened in Budapest on Monday by Prime Minister Viktor Orban, the ministry said in a statement.

The sides reviewed current economic developments as well as industrial and commercial cooperation opportunities, it added.

Nagy said Hungary was turning itself into a hub of Eastern and Western capital and technology.

They agreed on the importance of mutual investment promotion, cooperation in the construction sector and in third countries as well as in the green transition.

In 2022, Türkiye was Hungary’s 21st largest trading partner and trade turnover amounted to 3.5 billion US dollars. Hungary’s three major export products in that year were vehicles, electrical machinery, devices and instruments and their electrical components.

Almost 100 Turkish companies employ nearly 2,000 people, and hundreds of new jobs may be created in the future thanks to Turkish investments, the statement said.

Broadening economic and trade ties would focus on energy, logistics, pharmaceuticals, construction, agriculture and the food industry, it added.

As we wrote today, PM Orbán signs bilateral key strategic partnership agreement with President Erdogan, details HERE.

Also we wrote today about Hungary and Türkiye sign a new agreement for the most extensive energy cooperation ever, details HERE.