Hungary economic presence in Iran growing, says economy minister in Tehran

Hungary’s economic presence in Iran is expanding, Economy Minister Mihály Varga said on Monday. The Iranian government has expressed interest in boosting bilateral ties in finance, energy, mining and the food industry, he said after talks with ministers in Tehran. 

Oil minister Bijan Zanganeh expressed interest in strengthening cooperation between the two countries’ oil and energy companies, Varga told MTI by phone. Cooperation in the sector is ongoing, he said, noting that Hungarian oil and gas company MOL last year purchased crude oil from Iran. Zanganeh urged Hungary to maintain its presence in the sector in Iran.

Mohammad Shariatmadari, the minister of industry and mining, identified areas of cooperation, including medical equipment, food and the pulp and paper industries, he said.

Varga and Shariatmadari initialled an agreement on supplying Hungarian electric buses and Ikarus buses to Iran.