Thailand and Hungary have enjoyed some 50 years of diplomatic relations, with Hungary becoming an interesting market for Thai businesses. Officials from both countries have recently met to discuss potential cooperation including Hungary’s support for the Thai-EU FTA.
Thailand’s Trade Representative, Ms. Nalinee Taveesin, has met with the Ambassador of Hungary to Thailand, H.E. Sandor Sipos. Both sides congratulated each other on economic growth, with the bilateral trade value hitting a new high at around 770 million U.S. dollars.
The two officials acknowledged the potential to extend cooperation in areas such as Thai food and Muay Thai. Tourism is another area in which more cooperation could be extended, with some 29,000 people from Hungary visiting Thailand each year, and some 9,400 people from Thailand visiting Hungary each year.
As Hungary is set to chair the European Parliament from July to December this year, the Thai trade representative requested Hungary’s support for the Thai-EU free trade agreement (FTA). This FTA would yield bilateral benefits, giving Hungarian businesses better opportunities to export goods to Thailand, while giving Thai businesses more opportunities to trade with the 27 EU member countries. (NNT)
