Vietnam and Hungary Seek Enhanced Multifaceted Cooperation

Vietnam and Hungary are set to enhance their multifaceted cooperation following talks between Foreign Ministers, emphasizing trade, investment, and cultural exchange. They aim to leverage the EU-Vietnam Free Trade Agreement to boost agricultural products and attract investment in key sectors. Both countries reaffirmed their commitment to a peaceful resolution of regional issues based on international law.

On March 19, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son engaged with Hungarian Minister of Foreign Affairs and Trade Szijjarto Peter in Hanoi. During their discussions, they reached a consensus on enhancing cooperation between Vietnam and Hungary across several potential areas. Son emphasized the significance of Szijjarto Peter’s visit in fostering the Vietnam-Hungary comprehensive partnership, particularly as both nations celebrate 75 years of diplomatic relations from 1950 to 2025.

Son reiterated Vietnam’s commitment to fostering multifaceted cooperation with Hungary, acknowledging it as their first comprehensive partner in Central and Eastern Europe. He expressed gratitude towards the Hungarian Government for supporting the Vietnamese community, facilitating their stable living and contributions to Hungary’s socio-economic development and bilateral relations.

Szijjarto Peter commended Vietnam’s socio-economic growth and its increasing influence globally. He affirmed Hungary’s interest in strengthening ties with Vietnam, a notable partner in Southeast Asia. Both officials recognized the flourishing friendship and cooperation over the past 75 years, highlighting advancements in politics, trade, investment, cultural and educational exchange, as well as health care initiatives.

Hungary remains one of Vietnam’s primary trading partners in Central and Eastern Europe, while Vietnam is seen as a promising market for Hungary in Asia. Despite prevailing global economic challenges, bilateral trade has consistently maintained an annual growth close to 1 billion USD in recent years.

Both parties acknowledged the significant potential for increasing cooperation and agreed on measures to enhance bilateral relations, such as promoting high-level delegation exchanges and ensuring collaboration in multilateral forums like the United Nations and within the ASEAN-EU framework. Together, they aim to optimize opportunities from the EU-Vietnam Free Trade Agreement (EVFTA) by facilitating mutual market access for agricultural and aquatic products while encouraging Hungarian investments in sectors aligned with Vietnam’s needs and Hungary’s expertise, including pharmaceuticals and environmental management.

They also resolved to expedite the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA), enhancing cooperation in various fields such as education, agriculture, climate change, and health care. Discussions included potential negotiations on a citizen readmission agreement to bolster labor cooperation and the upcoming 10th session of the Vietnam-Hungary Joint Committee on Economic Cooperation scheduled for Hanoi.

Lastly, regarding key regional and international issues, including the East Sea situation and the conflict in Ukraine, both parties agreed on the necessity of peaceful resolution through respect for the UN Charter and adherence to international law.

In summary, the talks between Vietnam and Hungary marked a significant step towards strengthening bilateral cooperation across multiple sectors, reaffirming their commitment to enhancing trade, investment, and cultural exchanges. Both nations recognize the importance of their longstanding relationship and are poised to tackle common challenges through collaboration. The emphasis on peaceful resolutions to international disputes underscores their commitment to uphold international law and diplomatic dialogue.

Original Source: en.vietnamplus.vn