Iran, Hungary sign customs cooperation agreement

Iran and Hungary have signed an agreement on customs processes to help trade flowing smoothly between the two countries.

Spokesman of the Iranian customs administration (IRICA) said on Thursday that the agreement had been signed earlier in the day between Iran’s Minister of Economic Affairs and Finance Ehsan Khandouzi and visiting Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó.

Rouhollah Latifi said the document was signed during a second summit of Iran-Hungary joint economic cooperation committee where Iranian authorities held talks with Hungarian delegates on how the two countries can boost trade and economic relations.

Khandouzi, who took over as finance minister in late August, said that the customs agreement will be a positive step on the path to expand economic ties between Iran and Hungary.

He said that the two countries had also discussed increased cooperation on banking and exchange issues as well as on how to expand trade ties that are stuck at a low value of $40 million per year.

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Hungary’s Szijjártó also described talks held in the joint economic committee as successful, saying his country and Iran had agreed to expand cooperation in certain areas, including on construction material exports from Iran to Hungary as well as on joint investment projects in agriculture and health.

Earlier on Thursday, Szijjártó signed an agreement with Iranian foreign minister Hossein Amir Abdollahian under which the two countries will start to offer bursaries to 100 higher education students every year.

Amir Abdollahian said Hungary had also agreed as part of another agreement to start admitting Iranian passengers who have received Iranian-made coronavirus vaccines.

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