Potential Hungarian-Turkish cooperation in building industry and tourism
Friday, July 8, 2005, 08:07
Building industry and tourism are two potential areas where Hungary and Turkey could cooperate, Economics Ministry State Secretary Gabor Diossy noted in Istanbul on Wednesday. Diossy, attending the Eighth Eurasian Economic Summit, told MTI by phone that Turkey has invested about USD 50 million in Hungary, but that Hungarian foreign direct investment (FDI) in Turkey was quite low. Hungarian commodity exports to Turkey amounted to about USD 506
million last year, while its imports from Turkey were valued at USD 352 million, according to economics ministry data. Bilateral trade has been rising steadily since 2001, and in 2004, Turkey was Hungary's 21st largest trading partner.