Cambodia – Hungary Sign Agreement on Economic Cooperation

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Cambodia – Hungary Sign Agreement on Economic Cooperation

(Hungary): Mr. Pan Sorasak, Minister of the Ministry of Commerce, and representative of the Royal Government of Cambodia, on June 13, 2019, signed an agreement on economic cooperation between Cambodian Royal Government and Hungarian Government with Mr. Peter Szijjarto, Minister of the Ministry of Foreign Affairs and Commerce of Hungary in order to strengthen and enhance bilateral economic cooperation on the basis of equity and common interest. The agreement is covered on a variety of fields, ranging from trade, investment, construction, physical infrastructure, engineering, agriculture, industry, environment, power, health, telecommunication, information technology, technology, education,

intellectual property, finance and banking, science, and research as well as small and medium enterprises in the serve for mutual economic growth development. Beside of this, the other fields have also been further improved by heads of governments of Cambodia – Hungary, especially diplomatic ties between the two nations, which had been interrupted by crisis of civil war in Cambodia during 1975. Through today agreement signing, it was expected to increase further trade volume of the two nations, while currently the trade transaction is less – from 2013 to middle of 2018, Cambodia – Hungary bilateral trade volume accounted for US 16 million. In which Cambodia exported to Hungary accounted for US 13 million, and imported from Hungary accounted over US 3 million. Please inform that the signing ceremony was conducted at the same time the Cambodian senior delegations’ 2 days official visit, led by Samdech Techo Prime Minister Hun Sen to the Republic of Hungary to attend in the 5th Summit on Conference on Interaction and Confidence – Building Measures in Asia (CICA), held in Dushanbe.

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