Increased cooperation with Thailand in Hungary’s interest, says Hungarian FM

Given that Thailand has the largest economy in its region, it is in Hungary’s interest to intensify cooperation with the Southeast Asian country, Foreign Minister Péter Szijjártó said in Budapest on Friday.

At a joint press conference after talks with General Chatchai Sarikulya, Thailand’s deputy prime minister, Szijjártó noted that Thailand is Hungary’s number one Southeast Asian trading partner.

Thailand is a huge market where Hungarian companies have been successful in the past, the minister said, adding that Hungary intends to tighten bilateral economic relations.

Bilateral trade turnover increased by 18 percent last year from 2017, reaching 700 million dollars, Szijjártó said. Hungarian exports to Thailand were up 41 percent, he added.

To promote bilateral economic ties, Hungary’s Eximbank will open a 630 million dollar credit line, he said, adding that a session of the Hungarian-Thai mixed economic committee has also been convened.

With the European Union having lifted its restrictions concerning Thai air carriers, Hungary and Thailand have begun talks on launching a direct flight between the two countries, Szijjártó said.

In addition, talks are under way on Hungarian participation in Thailand’s air traffic control, he said.