Iran-Hungary Trade Estimated to Reach $100m

Iran-Hungary trade is estimated to reach $100 million by the end of the current Iranian year (March 20, 2018), Iranian Minister of Industries, Mining and Trade Mohammad Shariatmadari said in a meeting on Monday with Hungary’s Minister of National Economy Mihaly Varga in Tehran. “Last year, trade between the two countries increased by 100%,” Shariatmadari was quoted as saying by IRNA. According to Varga, bilateral trade has experienced a twofold increase since the nuclear deal officially known as the Joint Comprehensive Plan of Action was signed between Iran and the world powers in 2015. Varga met with his Iranian counterpart, Masoud Karbasian, as well as Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture Gholamhossein Shafei, on Sunday where four memoranda of understanding were signed between Iranian and Hungarian businesses, IRNA reported.