Türkiye and Hungary signed five trade cooperation protocols during a visit on Monday by President Recep Tayyip Erdoğan to the Hungarian capital Budapest, according to a high-level Turkish official.
Turkish Trade Minister Ömer Bolat said he, Energy and Natural Resources Minister Alparslan Bayraktar, and Industry and Technology Minister Mehmet Fatih Kacır attended a meeting with Hungary's Foreign Affairs and Trade Minister Peter Szijjarto and Energy Minister Csaba Lantos to discuss joint investments and new collaborations.
Parties agreed to convene the first session of the Joint Economic and Trade Commission (JETCO) committee on Feb. 12.
JETCO will provide a platform for representatives from the business circle of Türkiye and Hungary to explore mutual opportunities, he added.
Pledging to maintain efforts to increase our trade volume with Hungary in line with goals set out by President Erdoğan, he said:
"The Hungarian side stated that our request for an increase in land transit quotas will be taken into consideration and that they will put the development of relations with Türkiye on the agenda during the EU Presidency, which they will assume in the second half of 2024."
President Erdoğan's visit to Hungary came at the invitation of Hungarian Prime Minister Viktor Orban.
In Budapest, Erdoğan and Orban co-chaired the sixth meeting of the Türkiye-Hungary High-Level Strategic Cooperation Council.
