Politics

Hungarian President’s visit to Vietnam to lift all-around ties

The upcoming visit of Hungarian President Ader Janos is expected to foster multifaceted links between the two nations, especially in economics, trade, investment, and education and training.
The upcoming visit of Hungarian President Ader Janos is expected tofoster multifaceted links between the two nations, especially ineconomics, trade, investment, and education and training.

Thevisit will also focus on how to promote partnership between the twosides’ enterprises in the time ahead, and accelerate the implementationof their existing cooperative projects.

Vietnam and Hungaryestablished diplomatic ties in 1950 and the Middle European nationprovided Vietnam with valuable support in its national construction anddefence. The bilateral politic relations have developed strongly inrecent time through the exchange of high-level visits.

Hungary attaches special importance to expanding relations with Vietnam as part of its Look East Policy.

Thebilateral economic ties have seen positive progress recently withtwo-way trade in 2013 and in the first eight months of this year hit 148million USD and 113.5 million USD, respectively. Vietnam mainly sellelectronics, wood and wooden products and aquatic products to Hungary,while importing machinery, equipment, pharmaceuticals, and animal feed.

At present, Hungary are operating 12 FDI projects in Vietnam with a total registered capital of 47.3 million USD.

Regardingdevelopment cooperation, the Middle European country has committed tomaintaining its official development assistance provision for Vietnam inthe coming time.

The Vietnamese community in Hungary currently numbers around 4,000.-VNA
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