Hungarian-Turkish JEC clears plan to boost trade

Int’l Relations

kormany.hu/Gergely Botár

The Hungarian-Turkish Joint Economic Committee approved a plan to boost trade between the two countries from an annual USD 3 billion to USD 5 bln at a meeting in Ankara today, Minister of Foreign Affairs and Trade Péter Szijjártó told wire service MTI.

(Photo: kormany.hu/Gergely Botár)

Szijjártó said Magyar Eximbank had opened a EUR 255 mln credit line to support partnerships between Hungarian and Turkish businesses. 

Budapest has asked Ankaraʼs support in involving the state-owned Hungarian Electricity Works (MVM) in infrastructure projects as well as with the introduction of oil and gas company MOLʼs products on local markets, he added.

Hungaryʼs government has awarded a EUR 5 mln grant to Turkeyʼs Ravaber for the construction of a EUR 22.5 mln insulation plant in Miskolc (northeastern Hungary) that will create 107 jobs, he said.

The government wants to create further incentives for cooperation between Hungarian and Turkish research institutes in the farming sector, and it wants to export more Hungarian cattle to Turkey, he said. The sides are working together on eliminating regulations that put imports of Hungarian sweet corn at a disadvantage, he added.

Talks are underway on the construction of a biological water purification system and upgrades to Ankaraʼs water network by the Budapest Waterworks.

Hungary wants to train nuclear experts who will work at the Akkuyu Nuclear Power Plant, which is under construction, Szijjártó said.

He added that Hungary would offer Turkish business people the most favorable conditions possible for obtaining visas to come to Hungary.

Szijjártó met with Turkish Prime Minister Binali Yildirim and Turkish Minister of Foreign Affairs Mevlut Cavusoglu before the meeting of the joint committee. He also held talks with the committeeʼs co-chair, Minister of Science, Industry and Technology Faruk Ozlu.

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