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.

Hungarian President Ader Janos (Source: EPA)

The visit will also focus on how to promote partnership between the two sides’ enterprises in the time ahead, and accelerate the implementation of their existing cooperative projects.

Vietnam and Hungary established diplomatic ties in 1950 and the Middle European nation provided Vietnam with valuable support in its national construction and defence. The bilateral politic relations have developed strongly in recent time through the exchange of high-level visits.

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

The bilateral economic ties have seen positive progress recently with two-way trade in 2013 and in the first eight months of this year hit 148 million USD and 113.5 million USD, respectively. Vietnam mainly sell electronics, 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.

Regarding development cooperation, the Middle European country has committed to maintaining its official development assistance provision for Vietnam in the coming time.

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

Source: vietnam+