Hungary, Iran strengthening economic ties

The Iranian market offers good possibilities to Hungarian companies, and the latter country is an important entry point for Iranian companies into the EU, economy minister Mihály Varga and Iran’s finance minister, Masoud Karbasian, agreed in talks in Tehran on Sunday.

Hungary sees Iran as a “defining force” in its region, and will continue to strengthen bilateral economic ties, the ministry cited Varga as saying.

Hungarian companies Evopro, Enexio and bus manufacturing firm Ikarus have signed cooperation agreements with Iranian partners, Varga noted.

Varga suggested that a direct airline between the countries’ capitals should be launched.

The Hungarian Eximbank has allocated 162 million dollars to boosting economic cooperation, Varga said.

Speaking at a business forum organised by the Iranian trade and industry chamber after the meeting, Varga noted that the Hungarian government’s support to economic ties with Iran have resulted in a 60 percent increase in exports in January-August 2017, to 25 million dollars. Hungarian firms also seek investment opportunities, offering innovative and efficient technologies at affordable prices, he said.

As we wrote on February, Hungary’s economy minister Varga met Iranian Economy and Finance Minister Ali Tayebnia in Budapest.

Source: MTI