Szijjarto discusses economic cooperation with Peruvian officials

The world is facing unprecedented political, economic and security challenges as a result of the Russia-Ukraine war, Szijjarto 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 Szijjarto as saying. Bilateral trade turnover jumped by 62 percent 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.

Szijjarto first met Roberto Sanchez, the foreign trade and tourism minister. Later in the day, he is scheduled to sign agreements with Foreign Minister Miguel Angel Rodriguez Mackay, and meet the head of Congress’ foreign affairs committee, Maria del Carmen Alva Prieto, and its second vice-president Alejandro Munante Barrios.