Framework agreement deemed landmark in Viet Nam-Hungary ties

January 12, 2017 | 16:00

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The signing of a framework agreement on credit co-operation between the Vietnamese and Hungarian governments is an important landmark in the two countries’ diplomatic activities this year.

Foreign Minister Pham Binh Minh and Balogh Csaba, minister of state at Hungary’s Ministry of Foreign Affairs and Trade. - Photo An Dang

Deputy Prime Minister and Foreign Minister Pham Binh Minh made the comment during a meeting in Ha Noi on Wednesday with Balogh Csaba, minister of state at Hungary’s Ministry of Foreign Affairs and Trade.

Minh highly valued the two governments’ efforts in speeding up the finalisation of this agreement, which is worth 440 million euros (US$466.84 million). He said the deal is good preparation ahead of an official visit to Viet Nam slated for April by Hungarian PM Viktor Orban.

With this framework agreement, the two sides will implement many co-operation projects in the spheres of Hungary’s strength and Viet Nam’s demand, such as water resources management, wastewater treatment, information technology, cyber security and healthcare, he noted.

He also spoke highly of co-operation mechanisms at all levels between the two countries, adding that the vice speaker of Hungary’s parliament will visit Viet Nam in mid-January and his country is also ready to welcome the Hungarian PM this April.

He said bilateral trade remains low and is yet to match the countries’ potential and expectations. Hence, it is necessary to review the implementation of the minutes of the sixth session of their joint committee on economic co-operation to design new co-operation programmes in preparation for the seventh session, scheduled for March in Hungary.

At the meeting, the officials also acknowledged the role of Vietnamese people who were trained in Hungary in bolstering bilateral ties and mutual understanding.

VNS

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