Closed in 2006, Hungary’s embassy in Mongolia will soon reopen and the Hungarian National Trading House will open an office in Ulan Bator before the end of this year to serve as a permanent representation and bridgehead for Hungarian companies investing in Mongolia, Minister of State for Economic Diplomacy Levente Magyar said in Budapest at the opening ceremony of the Hungarian-Mongolian Business Forum.

In addition to agricultural technology, President of Mongolia Tsakhiagiin Elbegdorj also identified the pharmaceutical industry, infrastructure development and tourism as sectors in which investment by Hungarian companies has long been awaited, adding that the Hungarian Government’s intention to enable many more Mongolian students to study at Hungarian universities was also welcome.

The head of state of the Asian country noted that both the people of Mongolia and Hungary are descended from the Huns, and this close link between our cultures provides an opportunity for a close cooperation. Minister of State Magyar, from the Ministry of Foreign Affairs and Trade, said that Hungary would soon reopen its embassy in Mongolia, which was closed down in 2006, and that the Hungarian National Trading House would open an office in Ulan Bator before the end of this year to serve as a permanent representation and bridgehead for Hungarian companies investing in Mongolia.

The Minister of State, who also emphasised the close proximity between Mongolian and Hungarian cultures, added that Hungary would simplify the visa process for Mongolian businessmen and students to the extent that the Schengen regulations allow. More than 60 Mongolian businessmen and over 130 Hungarian companies took part in the daylong Hungarian-Mongolian Business Forum.

(Ministry of Foreign Affairs and Trade)