Viet Nam, Hungary ink three cooperative documents

The signing ceremony took place as part of Prime Minister Pham Minh Chinh’s official visit to the European nation from January 18-20.

These documents include an agreement between the two governments on cooperation in combating organized transnational crimes, a memorandum of understanding on cooperation between the Vietnamese Ministry of Foreign Affairs and the Hungarian Ministry of Foreign Affairs and Trade, and a cultural cooperation program between the Vietnamese Ministry of Culture, Sports and Tourism and the Hungarian Ministry of Culture and Innovation for the 2024 - 2026 period.

After their talks, the pair co-chaired a press conference announcing the outcomes.

Prime Minister Orban told the media that amid the world situation’s volatility, Hungary has recently implemented a Look East policy that considers the cooperation with Viet Nam, an emerging country with a growing role in the region and the world, as critically important.

The Hungarian Prime Minister announced that the two countries agreed to enhance cooperation in all aspects, including making use of the EVFTA and EVIPA and boosting ties in education, training, science, technology, and tourism as the they share many similarities in terms of history, culture, and geopolitical positions in the international arena.

He added that both countries have a common viewpoint about peace, so they will support each other at regional and international forums and attach importance to peace, stability, cooperation, and development.

In reply, Prime Minister Pham Minh Chinh spoke highly of Viet Nam’s foreign policy of independence, self-reliance, diversification and multilateralization of external relations, being a good friend, trustworthy partner, and responsible member of the international community, and following the “bamboo” diplomatic style.

Viet Nam, said the Prime Minister, treasures the traditional relations with Hungary, the only country in Central and Eastern Europe to have a comprehensive partnership with it.

In the Southeast Asian region, Viet Nam is the only country to earn nearly US$1 billion from exports to Hungary. Hence, Prime Minister Pham said that Viet Nam enables its investment to Hungary and Hungarian investment in the country in a bid to achieve a higher two-way trade turnover.

He called on Hungary to soon recognize the Vietnamese community in Hungary as an ethnic minority so that they can benefit from policies as equally as other ethnic groups of Hungary.

Prime Minister Pham Minh Chinh’s ongoing official visit to Hungary from January 18 to 20 is expected create breakthroughs and impetus for the comprehensive partnership between the two countries in the context the Hungary is about to hold the rotating Presidency of the Council of the EU in the last half of 2024.

The two countries lifted bilateral ties to the comprehensive partnership in 2018.

Since the signing of the EVFTA, trade between the two countries has grown by a record of 33 percent, from US$354 million in 2017 to over US$1.2 billion in 2022 despite impacts of the COVID-19 pandemic.

In 2023, braving regional and global economic difficulties and an economic recession in Hungary, bilateral trade still reached some US$900 million.

Hungary’s investment in Viet Nam remains stable with 22 projects worth US$72.28 million in total, ranking 51st among the 143 countries and territories investing in the Southeast Asian country./.