TEHRAN – Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has hosted a meeting to explore the trade opportunities of Iran and Hungary, the ICCIMA portal reported on Saturday.

The meeting was attended by officials from ICCIMA, Hungarian Embassy in Tehran and the Iranian Ambassador to Hungary as well as the representatives of some Iranian companies.

Speaking at the gathering, ICCIMA Deputy Head Hamed Asgari expressed dissatisfaction with the level of trade between the two countries, saying: “The trade balance between Iran and Hungary is not favorable. We export about six to 10 million dollars [of commodities] to Hungary and import 30 million dollars from that country. The economic capacity of the two countries is much more than that.”

“The trade problems between Iran and Hungary should be diagnosed and the embassies of the two countries should provide operational solutions to solve them. Of course, the sanctions have affected the trade volume,” he said.

He further mentioned some challenges in the way of the two countries’ trade development, noting: “The two sides should establish banking relations and financial transfer, resolve transportation and logistics problems, facilitate efficient trade by accelerating customs processes and minimizing transaction costs, as well as the implementation of market access initiatives.”

The official suggested that different specialized working groups should be created so that the companies of the two countries can work together in a specialized manner.

“The representatives of the chambers of commerce of the two countries should also be present in these working groups so that both sides reach practical solutions,” Asgari noted.

Elsewhere in this meeting, Gabor Fulop, the deputy of the Hungarian embassy in Tehran, said that his country is interested in developing business relations with Iran, referring to the historical and cultural relations between the two countries.

“In five years, we went through various experiences such as the pandemic and economic crisis; There are still problems in the region. But Iran and Hungary are two countries that each strive for peace, and this is a good platform for bilateral cooperation,” he noted.

EF/MA