Hungary, Vietnam presidents discuss economic cooperation in Hanoi

Hanoi, November 27 (MTI) – Hungarian President Janos Ader and his Vietnamese counterpart Truong Tan Sang, holding talks in Hanoi on Thursday, agreed that there was a vast potential to be exploited in bilateral economic relations.

Speaking at a joint press conference after the meeting, Ader noted that bilateral relations had overall fared well since the Vietnamese president’s visit to Hungary last year.

Bilateral trade has increased by 60 percent and several joint projects have been launched, he said.

Ader noted the construction of a water treatment facility on the Red River in cooperation with the Budapest Municipal Water Works. The Hungarian government will provide financing for the project under a tied aid credit scheme, he said.

Several agreements were signed in the presence of the two presidents. For instance, the two countries agreed to set up a joint venture to develop a public warehousing system for the Vietnamese agriculture.

Truong Tan Sang welcomed that Hungarian enterprises would be cooperation partners in Vietnam’s food industry and public warehousing sector, and that Hungary as an EU member state would help the recognition in Europe of Vietnam as a market economy.

Photo: MTI – Noemi Bruzak

Source: http://mtva.hu/hu/hungary-matters