Vietnam, Hungary establish comprehensive partnership

Vietnam's Party General Secretary Nguyen Phu Trong and Hungarian Prime Minister Viktor Orban have agreed to upgrade the two countries’ relationship, to deepen bonds and cooperation.

“Hungary always encourages our businesses to invest in Vietnam, ” PM Orban told Trong and the Vietnamese delegation at a press conference. He also encouraged Vietnam to boost its relations with the European Union (EU).

In response, Vietnam affirmed that Hungary has always been one of Vietnam’s most important partners in Central Europe and urged Hungary to strengthen is relations with the Association of Southeast Asian Nations (ASEAN).

Both countries agreed that international disputes should be resolved through peaceful dialogue in accordance with international law and the United Nations Charter.

During Trong’s visit, Vietnam and Hungary signed several co-operation agreements in the defense, medicine, education and hydrology sectors.

Last year, bilateral trade turnover between the two countries reached $355 million, according to the Ministry of Industry and Trade.

Vietnam’s exports to Hungary include electrical devices, woodwork and seafood, while its main imports are medicine, machinery and chemicals, among other items.

As of April, Hungary had 17 investment projects worth $63.56 million in Vietnam, mainly in communications and manufacturing, according to the Ministry of Planning and Investment.

Vietnam and Hungary established formal relations in 1950.