“A 160-million-dollar tied aid loan programme is being launched that will afford several Hungarian enterprises the opportunity to participate in Laotian development projects”, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Monday in Budapest.

At a joint press conference following a meeting with Laotian Deputy Prime Minister Sonexay Siphandone, Mr. Szijjártó highlighted: “Within the framework of the programme, Hungarian companies will be refurbishing the Laotian capital’s sewage system, and taking part in food safety development projects and in the establishment of an electronic identification card system”.

“The investment projects will be reinforcing Hungarian enterprises, and as a result the Hungarian economy and our foreign trade performance. Within the framework of a previous, similar programme, Hungarian enterprises realised 38.6 million dollars’ worth of agriculture and food industry investment projects in Malaysia”, Mr. Szijjártó pointed out.

“Within the framework of the Eastern Opening strategy, we are paying particular attention of Southeast Asia, which is among the world’s most rapidly developing regions. This rapid economic growth is offering many opportunities to Hungarian enterprises”, he confirmed. The Foreign Minister also spoke about the fact that in the interests of the long-term development of Hungarian-Laotian relations, scholarships are being afforded to students from Laos to enable them to attend Hungarian universities, and there are currently 100 Laotian students studying in Hungary.

Sonexay Siphandone confirmed: “Hungarian-Laotian relations boast a long history and are based on mutual respect, and both countries are committed to the further development of cooperation”. He recalled that Hungarian President of the Republic János Áder had recently visited Laos, which represents a milestone in the history of Hungarian-Laotian friendship. He highlighted the significance of economic relations, explaining that in his opinion the refurbishing of the capital’s sewage system is one of the most important projects in which the two countries are cooperating.

“The two countries are supporting each other on regional and international forums”, the Laotian Deputy Prime Minister stated. Prior to the press conference, a Hungarian-Laotian food safety agreement was signed.

(MTI)