Deputy Minister of Industry and Trade Hoàng Quốc Vượng  (L) and Hungarian Deputy State Secretary for Export Development at Ministry of Foreign Affairs and Trade Istvan Joo take a photo after signing a Minute of the Meeting. — Photo courtesy of the Vietnamese Embassy in Hungary

BUDAPEST  — Việt Nam and Hungary have agreed to boost comprehensive collaboration across politics, economy-trade, science-technology, culture, tourism, finance, agriculture, and security-defence to mark their 70th anniversary of bilateral diplomatic relations (February 1950-2020).

Vượng and Istvan Joo highlighted socio-economic development in their respective countries, and reviewed bilateral co-operation results since the 8th meeting of the committee.
According to statistics from the General Department of Vietnam Customs, trade value between the two sides during January-October this year was estimated at US$611.6 million, a year-on-year surge of 17.58 per cent.
Việt Nam gained over $340 million from exporting garments and textiles and transport vehicles and spare parts, among others to the central European country. Meanwhile, the country splashed out $270 million on purchasing Hungarian pharmaceutical products, chemical, machines and tools.
Regarding the financial co-operation framework agreement worth 440 million euros ($484.7 million), they reached a consensus on priority sectors of water management, pharmaceutical-medical industry, IT, and technologies in the agricultural sector.
They will also co-ordinate closely to accelerate the implementation of projects approved by the two governments.
The 10th meeting of the Việt Nam-Hungary Joint Committee on Economic Cooperation will take place in Hà Nội. — VNS