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).
The agreement was made during the 9th meeting of the Vietnam-Hungary Joint Committee on Economic Co-operation, co-chaired by Deputy Minister of Industry and Trade Hoàng Quốc Vượng and Hungarian Deputy State Secretary for Export Development Istvan Joo in Budapest on Tuesday.
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