Economy
Turkey , Hungary aim to boost bilateral trade
2 countries eye $ 6B in bilateral trade , says Hungary ’ s ambassador to Turkey
Viktor Matis , Hungarian Ambassador to Turkey .
Turkey and Hungary want to boost bilateral trade by focusing not only on commerce but also on cultural interactions between the countries , said Hungary ’ s ambassador to Turkey . “ For Turks , Hungary is a gateway to Europe . For Hungarians , Turkey is a bridge between East and West ,” said Viktor Matis during an online seminar held recently . Saying that bilateral development started accelerating in 2013 when a Strategic Cooperation Council was established , he said the bilateral trade volume target was set at $ 6 billion . He noted : “ A few years ago Turkey said it would be among the world ’ s 10 largest economies and there ’ s no question this will happen or not . The only question is when . We think this will happen in a short time .”
Turkey ’ s investment in Hungary over $ 2.4B Adnan Polat , head of the Turkey-Hungary Business Council , said
in the light of their shared history the countries want to develop trade relations . Stressing the country ’ s geopolitical importance , Polat said Hungary is right in the center of Europe , a one-and-a-half-hour flight from Turkey ’ s commercial capital Istanbul . Additionally , he added , the country provides lucrative incentives for investment . “ It has the lowest corporate tax in Europe . Hungarian Eximbank also supports investors ,” he noted . “ The trade volume between two countries was around $ 1.6 billion five years ago and before the pandemic , we had increased it to $ 3.6 billion ,” he explained . “ Five years ago , Turkish investment in Hungary didn ’ t reach € 100 million [$ 118 million ], now it ’ s over € 2 billion [$ 2.4 billion ],” he added .
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November 2020