Iran-Hungary Trade Doubled Post JCPOA
Economy, Domestic Economy

Iran-Hungary Trade Doubled Post JCPOA

Trade between Iran and Hungary 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. This was stated by Hungary’s Minister of National Economy Mihaly Varga in a meeting with Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture Gholamreza Shafei in Tehran on Sunday. Four memoranda of understanding were signed between Iranian and Hungarian businesses at the meeting, IRNA reported. The first was between Hungarian Enexio Company, Iranian Behin Saman Company and Thermal Power Plants Holding Company to manufacture hybrid cooling systems. Next was Evoporo that signed an MoU in the field of electric vehicles with Iran’s Gijin company. Eveporo signed another agreement with the Iranian company Pishro Diesel in the field of electric rail equipment.   The fourth agreement pertained to the manufacture of 1,000 buses, which was signed between the Hungarian Ikarus and Iran’s City Industries and Mines Development Group, a subsidiary of Shahr Bank.  Varga held a separate meeting with his Iranian counterpart, Masoud Karbasian, on Sunday.


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