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Hungary, Syria sign economic cooperation agreement

Hungary and Syria signed an economic cooperation agreement in Budapest on Wednesday.

The agreement was signed by state secretary at the National Economy Ministry Zsolt Bécsey and Syrian Deputy Prime Minister Abdallah Dardari.

Agreements between Hungary and Syria on protection of investments as well as avoidance of double taxation are also ready to be signed, Dardari said.

Dardari said he saw opportunity for closer cooperation with Hungary in the areas of energy, tourism, transportation and research and development. Syrians believe it is important for smaller countries to establish good cooperation in light of the process of globalisation and the economic crisis, he added.

Dardari brought with him an invitation for an official visit from Syria's prime minister to Hungary's prime minister and foreign minister.

Dardari arrived in Budapest for a two-day visit with a delegation of 35 company representatives. The delegation will meet with Hungarian partners in the afternoon.

Hungary's exports to Syria came to €70 million in 2009. Imports from Syria were a little under €2 million. (MTI-Econews)