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Turkish Trade Minister: There is an investment of $700 million in Hungary

Minister of Commerce Mehmet Mus said, “Taking into account the investments made through third countries, our country has an investment of $700 million in Hungary. We foresee this figure to exceed $3 billion with the investments currently underway and planned for the coming period.”

Trade Minister Mus met with Hungarian Foreign and Trade Minister Peter Szijjarto as part of the Turkey-Hungary Joint Economic and Trade Commission (JETCO) program. The two ministers held a joint press conference after the meeting.

Stating that the friendly relations between Turkey and Hungary, whose roots go back centuries, have gained a strategic character in recent years, Minister Mus said, “The two countries are in close cooperation to protect each other’s interests, both in international platforms and in regional platforms such as the European Union and the Organization of Turkish States. There is a very sincere and strong dialogue between our heads of state and us. We will celebrate 2024 as the Culture Year of Turkey-Hungary, on the occasion of the 100th anniversary of the entry into force of the friendship agreement between our countries.”

Noting that Hungary is an important trade partner for Turkey, Minister Mus said, “Our trade volume, which was only $356 million in 2001, has exceeded $3 billion by the end of 2021. Our duty is to increase our bilateral trade volume to $6 billion in line with the target set by our President and Prime Minister. Considering the investments made through third countries, our country has an investment of $700 million in Hungary. We anticipate that this figure will exceed $3 billion with the ongoing and planned investments in the upcoming period. We see that the investments from Hungary to our country have gained momentum recently.”

Hungarian Minister Szijjarto said that they want to further increase the Hungarian-Turkish trade volume for the economies of both countries.

Source: Sabah / Translated by Irem Yildiz

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