Hungarian-Iranian Joint Economic Committee Meets in Budapest

Int’l Relations

Iranian Minister of Economic and Financial Affairs Ehsan Khandozi with Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó.

Photo by MTI/Tibor Illyés

The Hungarian-Iranian Joint Economic Committee met in Budapest on Thursday, according to a report by news agency MTI.

After the meeting - the committee's second in a year - Minister of Foreign Affairs and Trade Péter Szijjártó said Hungary and Iran are working to develop bilateral economic ties in the framework of a "policy of common sense and pragmatism".

"We want Iran to be able to return to the framework of peaceful cooperation within the international community as soon as possible. As the global economy now faces big challenges, we think that the economy could provide the initial impetus for that return," he added.

He said the sides reviewed opportunities to develop cooperation, adding that representatives from 96 Hungarian and Iranian companies are participating in a business forum organized to coincide with the meeting.

Bilateral trade rose 45% last year, boosted by Hungarian exports of textiles and pharmaceuticals as well as imports of plastics from Iran, Szijjártó said. Iran is in the process of issuing import permits for seeds, poultry, and medical devices from Hungarian companies, he added.

He noted that around 2,000 tuition-paying Iranian students are enrolled at Hungarian universities, mainly in medical and business programs. Hungary awards 150 scholarships to Iranian students, he added.

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