HomeEconomyTürkiye, Hungary target $6B trade volume, stronger defense ties

Türkiye, Hungary target $6B trade volume, stronger defense ties


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Industry and Technology Minister Mehmet Fatih Kacır expressed Sunday optimism relating to the amount of bilateral items trade between Türkiye and Hungary which is approaching the determine of $4 billion, highlighting confidence in progressing steadily towards the goal quantity of $6 billion.

“There is a target of $6 billion endorsed by our leaders and we are moving step by step toward this target. We anticipate that the defense industry will provide significant momentum toward this target,” he stated.

Following his two-day go to to Hungary, Kacır supplied insights into his discussions in Budapest to Anadolu Agency (AA).

He recalled President Recep Tayyip Erdoğan’s go to to Budapest in August and revealed that on Dec. 18, in the course of the anticipated “High-Level Strategic Council Meeting” led by President Erdoğan in Budapest, they might concentrate on accelerating the initiatives that started in the course of the August go to, significantly within the subject of protection trade cooperation.

Highlighting the longstanding friendship between the 2 nations the minister conveyed the aim of remodeling and sustaining this friendship into strategic cooperation in varied fields.

Furthermore, he touched upon a big step in protection trade collaboration by means of a provide and joint manufacturing challenge led by the Turkish firm Nurol Makina with its stakeholders in Hungary, including that they assume the cooperation can go a lot additional than this.

“During this visit, we held a meeting (lasting) nearly five hours at the Hungarian Ministry of Defense with 10 different defense industry firms and organizations we had invited. These entities presented their ongoing projects and how they could contribute to the Hungarian defense industry,” he defined.

He added that Hungary is at present finishing up a big program within the protection trade, particularly within the modernization of its military. “In this program, we aim for Turkish defense industry institutions to play a more effective role,” he stated.

The minister additional detailed a gathering on the “ZalaZONE Automotive Test Center,” one among Europe’s most necessary automotive take a look at infrastructures established by Hungary.

They explored potential collaborations between the Turkish automotive and protection industries inside this middle, he stated.

Regarding commerce relations, the minister talked about discussions with Peter Szijjarto, minister of Foreign Affairs and Trade, specializing in investments and strategic areas for collaboration between Türkiye and Hungary.

Reiterating the aim of $6 billion in bilateral commerce, Kacır predicted that the protection trade would play an important position in attaining this goal, because the home protection trade is predicted to catch its goal stage of $6 billion in exports, he stated, and quickly transfer towards the determine of $10 billion.

“In this context, our cooperation with Hungary, one of our important friends, especially in the field of defense, will enable us to achieve the annual trade volume of $6 billion set by our leaders,” he stated.

Minister Kacır additionally highlighted cultural and historic elements of the connection, together with visits to restored websites by means of cooperation between the Turkish Cooperation and Coordination Agency (TIKA) and the Hungarian authorities.

He additionally talked about that 2024 could be the “Turkish-Hungarian Year of Culture,” with 100 completely different occasions deliberate.

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