Govt takes steps to deepen Hungarian, Turkish economic ties

Int’l Relations

Hungary's government has taken the necessary political steps to deepen economic cooperation with Turkey and aims to double bilateral trade between the two countries in a short time, state secretary for foreign affairs and external economic relations Péter Szijjártó said on Wednesday. Hungarian exports to Turkey came to $1.6 billion last year, Szijjártó said, speaking at a Turkish business seminar organised by the Hungarian Chamber of Commerce and Industry (MKIK). Hungarian imports from Turkey reached $500 million, he added. At present, 38 Hungarian companies are operating in Turkey, while 293 Turkish companies are operating in Hungary. Szijjártó said trade between Hungary and Turkey could be boosted by cattle exports as well as projects in the areas of construction, water management and environmental protection. About 70,000 of the 110,000 live cattle Hungary exported last year went to Turkey, he added. Turkey is undergoing a four-year $15 billion hospital construction programme, and Hungarian companies are in talks on participating in it, he said. Talks are also underway on cooperating on instruction in nuclear sciences, he added. Hungary is open to any proposal to establish a trade house in Turkey, Szijjártó said.

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