TEHRAN – Hungary’s minister of foreign affairs and trade has said his country is pursuing economic relations with Iran despite Western sanctions making it challenging to maintain bilateral trade and financial ties.

"The pretty extended framework of sanctions against Iran makes it really challenging to build effective economic and trade cooperation between the two countries. But challenging does not mean impossible," Peter Szijjarto said during an interview with the IRNA news agency. 

The Hungarian top diplomat visited Tehran earlier this week as the head of a high-ranking delegation. He met with his Iranian counterpart, Hossein Amir Abdollahian, and signed a trade deal in agriculture and food industries. Szijjarto has also attended a Hungarian-Iranian business forum in Tehran to discuss sectors not affected by sanctions, including pharmaceutical, food, healthcare, and water management industries.

When asked about the challenges of working with Iran due to financial transaction limitations, the minister said the two countries can still cooperate in a multitude of areas. 

“There are sectors that are not affected by sanctions, and their trade is entirely free and legal. I don't think that trade in non-sanctioned areas is affected by financial sanctions.

We need to find a way to conduct our trade with respect to international law. Our national bank is guided by experienced professionals, and we ask them to examine this matter,” he noted, adding that Hungary is also granting scholarships to Iranian students to further develop ties between the two countries.