Hungary wishes to further strengthen comprehensive partnership with Vietnam

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Deputy Prime Minister and Foreign Minister Pham Binh Minh (R) and Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó. Photo: VNA

Deputy Prime Minister and Foreign Minister Pham Binh Minh highlighted the traditional friendship between Vietnam and Hungary during talks with Szijjártó in Hanoi on October 16.

Minh expressed his belief that the minister’s visit to Vietnam on October 15 and 16 will create new momentum for bilateral ties.

The upgrading of the comprehensive partnership during the visit to Hungary by Party General Secretary Nguyen Phu Trong in September 2018 has provided a firm foundation for advancing relations, he continued.

For his part, the guest said that Hungary wishes to enhance the comprehensive partnership and spoke highly of Vietnam’s increasingly important role and position in the region.

The two officials expressed pleasure at the active development of bilateral cooperation and agreed on specific orientations and measures to boost relations in the time ahead.

They spoke highly of coordination and mutual support in elections and candidacies at major UN agencies and organisations.

The two shared the view that bilateral economic-trade ties have remained stable but are yet to match potential and wishes.

At the meeting.

They therefore agreed to encourage and facilitate business links, especially in areas where Hungary possesses strength and Vietnam has demand, such as water resources exploitation, environmental protection, pharmaceuticals, food processing, renewable energy, manufacturing and processing, defence industry, and infrastructure.

Minh thanked Hungary for supporting the ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and for being the first EU member country to approve the EU-Vietnam Investment Protection Agreement (EVIPA).

These deals have brought about pratical benefits to trade and investment links between the two countries and contributed to connecting the EU and Hungary with ASEAN and Asia-Pacific.

Minh also expressed his appreciation of Hungary’s view of Vietnam as a priority partner in its official development assistance (ODA) policy, adding that a number of ODA projects have generated socio-economic outcomes and contributed practically to the country’s sustainable development.

The two sides consented to closely coordinate with each other to push ahead with the disbursement of approved projects using Hungarian preferential loans within the framework of the financial cooperation agreement worth EUR 440 million (over USD 515 million) signed by the two countries in 2017.

They compared notes on orientations to boost partnerships in other spheres, such as national defence and security, education and training, health care, agriculture, culture and tourism, natural resources and environment, and employment, as well as cooperation between the two foreign ministries, covering personnel training.

The officials also exchanged views on regional and international issues of shared concern, including Bien Dong Sea issue.

At the signing ceremony.

On the same day, the Ministries of Finance of Vietnam and Hungary signed a memorandum of understanding (MoU) on financial cooperation in Hanoi.

Vietnamese Minister of Finance Dinh Tien Dung said the signing of the MoU builds upon the positive achievements from an MoU signed in 2017 between the Vietnamese Ministry of Finance and the Hungarian Ministry for National Economy (now the Ministry of Finance), contributing to strengthening the bilateral friendship and traditional cooperation and expanding international cooperation in finance.

The MoU will help strengthen bilateral dialogue and coordination in fields of shared concern, especially financial analysis and forecasting and the macro-economy.

It will also help build policies, manage budget collection-expenditure and public debts, and develop Government bond markets and other economic-finance issues.

The signing is also of significance at a time when the two countries are celebrating the 70th founding anniversary of bilateral diplomatic ties in 2020./.

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