Hungary and Peru have a good basis to further develop cooperation, which could help maintain the growth of Hungary’s economy in the present crisis, Péter Szijjártó, the minister of foreign affairs and trade, said in Lima.
The world is facing unprecedented political, economic and security challenges as a result of the Russia-Ukraine war, Szijjártó said. Reliable partnerships have gained in value, especially for an open economy like Hungary, he added. Stronger ties with Peru will help Hungary maintain growth, especially in view of past achievements, the ministry cited Szijjártó as saying. Bilateral trade turnover jumped by 62% last year, and Hungarian companies have an increasingly important role in the South American country’s economy, he said.
Hungarian pharmaceutical company Richter is leading the Peruvian market in several product lines, and Hungarian agricultural and food processing technology is well sought after. That points to an increasing demand in cooperation between the two countries’ agricultural universities, he said.
From next year, Hungary will offer state scholarships to 20 Peruvian students wishing to study here. It will also support cooperation between diplomatic academies and in sports, he said. Hungary and Peru have also started talks on an agreement to avoid double taxation, he said.