News ID: 122540
Published: 0844 GMT July 15, 2015

Nuclear deal to enhance Tehran-Budapest ties

Nuclear deal to enhance Tehran-Budapest ties

Hungarian Foreign Minister Peter Szijjarto said the nuclear agreement between Iran and P5+1 will bring Iran back to the international community and result in the expansion of economic and cultural relations between Iran and Hungary.

Speaking to reporters in Budapest on Wednesday, he said the pact is of prime importance for Hungary, IRNA reported.

He welcomed the accord saying the restoration of stability and security in the Middle East is impossible without Iran's cooperation.

Comparing Iran's nuclear talks with a marathon contest, he said the breathtaking negotiations ended in a win-win situation and both sides reached a comprehensive deal.

On relations between Iran and Hungary after the lifting of the sanctions, he said energy security is very important for Hungary and Iran can play very significant role in this.

Referring to his recent visit to Iran, he said fields for expansion of mutual cooperation are enormous including water management, engineering and agriculture.

During his recent visit to Iran In May, Szijjarto said after the tightening of sanctions on Iran, Tehran-Budapest trade declined to around $40 million, which is not satisfactory at all given the potentials and economic capacities of the two countries.

"Before that, it amounted to about $100 million. The two countries have the potential of increasing the figure to over $1 billion," he said.

Commenting on the two countries' trade, Szijjarto said the two sides have identified four areas for boosting collaboration, namely automotive industry,  information and communications technology, production and trade of pharmaceuticals and water management.

"Lack of potable water is going to be an issue here. Hungary has developed advanced water management technologies, which could be of help to Iran," he said.

Szijjarto stressed that since energy security is still the hottest topic in Europe, Hungary is looking for ways and means of diversifying the sources and routes of energy.

"A final nuclear deal can open up an absolutely new chapter in energy cooperation between the EU and Iran, turning Iran into a reliable and rich source of diversification regarding oil and gas," he said.

The minister noted that Hungarian companies are highly interested in expanding cooperation with Iranian firms.

Resource: IRNA
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