Iran, Hungary Discuss Expansion of Economic Ties

During a meeting in Tehran on Tuesday, Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh and Hungarian Ambassador in Iran Giola Peto explored ways for further enhancement of economic relations.

Speaking in the meeting, Hassanzedeh complained that the current US$36 million bilateral exchanges between Iran and Hungary is too low considering the two countries’ great potentials for expanding economic relations, the ICCIMA portal reported.

He referred to Hungary’s advanced auto industry, adding that Iran is also producing auto spare parts with internationally accepted standards which paves the way for further cooperation between the two countries to gain a foothold in the global auto market.

The ICCIMA head also said that food industries, home appliances, electric equipment, petrochemicals, tourism and student exchanges are among other areas Iran and Hungary can cooperate. Hassanzadeh believed that lack of familiarity with each other’s capacities has been hindering Iran and Hungary from upgrading the level of their trade exchanges.

The Hungarian ambassador, for his part, said that the fifth meeting of Iran-Hungary Joint Economic Committee is scheduled to be held in the first half of the next year while the two countries are making the necessary planning for the meeting.

The Hungarian embassy is making every effort to find new ways for upgrading the level of ties between the two nations, Giola Peto said.

Highlighting the necessity of making the businesspeople of the two countries familiar with each other, Peto said that a business forum was held on the sidelines of the fourth joint committee of Iran and Hungary and the next committee meeting should also include a business forum.

He noted that Hungary as the rotatory chairman of the European Union will support the existing mechanisms to resolve the international restrictions imposed on Iran through negotiations and diplomacy.

The ambassador noted that as long as the restrictions on Iran remain in place, Iran and Hungary can focus their relations on non-sanctioned areas, including food, pharmaceuticals and agricultural areas. - Tehran Times