PUBLISHED : 31 Aug 2024 at 04:00
The Hungarian-Thai Chamber of Commerce will sign a Memorandum of Understanding (MoU) with the Budapest Chamber of Commerce next month to boost bilateral economic cooperation between Hungary and Thailand.
The Hungarian embassy held a luncheon between the Hungarian ambassador and local Thai media to talk about Hungary’s tenure as president of the Council of the European Union as well as Hungary’s foreign policy on Wednesday at the British Club Bangkok.
Balla: Seeking to develop trade
Kamilla Balla, the Hungarian embassy deputy head of mission, told the Bangkok Post that the MoU will be signed during the “Thai-Hungarian Business Matching & Fintech Event” held at the Budapest Chamber of Commerce and Industry in Hungary on Sept 17.
The MoU will promote business, trade development and economic cooperation among business communities of both countries. Other benefits will include the exchange of trade delegations, providing reciprocal economic information, and assisting each other in organising or participating in trade fairs and exhibitions.
“As the Hungarian-Thai Chamber of Commerce is a recently established chamber, it is crucial for them to expand their institutional relations. The signing of the MoU will also contribute to the recruitment of new members of the chamber and raise the attention of the companies doing business in Thailand,” she added.
Peter Szijjarto, Hungary’s minister of foreign affairs, said in an earlier seminar about investment promotional policies in Hungary that was held in Thailand in March, that trade between the two countries exceeded US$730 million last year.
Hungary’s exports to Thailand jumped 9% in 2023, and the country now ranks as Thailand’s 11th-largest business partner, he said.