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President endeavors to boost bilateral trade with Vietnam

May '08
Vietnam and Hungary have not realized their full potential in terms of exploiting each others commercial markets and improving bilateral trade. However, it is with this view in mind that Mr Solyom Laszlo, Hungarian President is presently on a five day visit to Vietnam for attending a strategic meeting with his Vietnamese counterpart Mr Nguyen Minh Triet.

Diplomats from both the countries are hopeful that the meeting would culminate in boosting trade and economic relations between Vietnam and Hungary.

It is believed that the heads of the two countries would essay to reorient and restructure relations following Hungary's entry to the EU and Vietnam's membership of the WTO and appointment as non-permanent member of the United Nations Security Council for 2008-09.

In the last couple of years, bilateral trade results between the two countries has witnessed positive developments, as trade rose from US $38 million in 2004 to $89.6 million in 2007. Vietnam has mainly exported textiles, apparel, footwear and handicraft products to Hungary while importing machineries among others.

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