Hungarian bank opens €85m credit line for Iran

February 10, 2017

TEHRAN- The Hungarian Export-Import Bank (Exim Bank) has opened an 85-million-euro credit line to enhance bilateral trade with Iran, Tasnim news agency reported on Friday.

The credit line will be used to finance joint economic projects in the future, Hungarian Foreign Affairs and Trade Minister Peter Szijjarto said after meeting Iranian Finance and Economic Affairs Minister Ali Tayyebnia in Budapest on Tuesday.

Expressing the Hungarian government’s support for making joint ventures with Iran, Szijjarto noted that preliminary negotiations have been done aiming to boost joint investments and mutual trade ties.

Tayyebnia, for his part, said Iran plans to take advantage of Hungary as a gateway to improve its economic cooperation with Europe.

On the sidelines of their meeting, the two sides inked some MOUs and cooperation agreements in various fields such as tourism, sports, and transportation.

During his stay in Budapest, the Iranian finance minister had also a meeting with Hungarian Minister for National Economy Mihály Varga on Thursday. 

In this meeting the Hungarian minister expressed content about the signed MOUs and the held joint economic committee meeting and named healthcare industry, auto manufacturing, building industrial estate, and making joint ventures as suitable fields for future cooperation between the two sides. 

He, in addition, called for formation of a working group to explore possible avenues for further cooperation.
 
Tayyebnia also met Hungarian Prime Minister Viktor Orban on Wednesday. Orban underlined the significance of Tehran-Budapest ties in the areas of energy and economy and called for promoting economic cooperation between the two countries.

HJ/MA/MG

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