Lots of joint projects – – 2024-03-08 07:54:49

Hungary-Türkiye

Written by Rainer Ackermann

Economic relations with Turkey have a great future. This certainty was expressed by Foreign Trade Minister Péter Szijjártó, who negotiated in Ankara on Thursday.

Last year, bilateral trade increased by 18% to $4.3 billion. This brings us closer to the target of USD 6 billion defined by President Erdogan, said Szijjártó following the meeting of the Joint Trade and Economic Committee. Hungary was even able to increase its exports by 29%.

Millions of Hell cans, thousands of cattle

Representatives from a dozen Hungarian companies accompanied the minister to Ankara. As examples of recent successes, Szijjártó cited Medicor’s emerging medical technology plant, the role of the specialist printing company ÁNY in the production of the new Turkish passports, and last year’s sale of 19 million cans of light energy drinks and more than 70,000 Hunland cattle. In the defense industry, a Turkish-Hungarian joint venture is fulfilling the Hungarian Armed Forces’ major order for the delivery of 400 4×4 Gidran armored vehicles. V-Híd has entered into a partnership with Turkey’s largest rail construction company to jointly tackle projects in third markets.

From gas to nuclear power plants

However, the relationship takes on a truly new dimension in cooperation in energy matters, emphasized Szijjártó. MVM will purchase natural gas from BOTAS in the long term, initially with a volume of 275 million m3 this year³. MOL, together with TPAO, is working on the exploitation of oil and gas fields in southeastern Turkey. In addition, the exchange of experiences and technologies in the construction of nuclear power plants will be deepened.

Finally, the Foreign Minister stated that Hungary would use its role as chairman of the EU Council Presidency in the second half of the year to bring the Community’s customs union with Turkey to a new level or expand it. “This is in Europe’s economic interest and our national interest,” said Szijjártó. In addition, the general conditions are to be improved in order to intensify air traffic between Budapest and Istanbul or Ankara.

The negotiations revolved around a wide range of economic issues, not least Hungary’s security of energy supply.