February 11, IFIF public relation- €85 million credit line has been allocated to the Export Development Bank of Iran by the Hungarian Export-Import Bank to expand economic cooperation between the two countries.

During a joint economic commission in Budapest the Hungarian foreign minister said “Preliminary agreements have been made to support mutual investments and by resolving the issues, we will witness a rise in our trade, which will be beneficial for both countries.”

The first joint economic commission was held on February 2 in Budapest with the participation of Iran’s Economy Minister Ali Tayyebnia and Szijjarto, along with the CEOs and representatives of Iranian and Hungarian banks focusing especially on banking ties enhancement between Iran and central European country.

Tayyebnia underlined the importance of bilateral banking ties to revive the previous economic relations. The Iranian minister added that since Hungary has an advantageous geographical location, Iran will use the country as a conduit to increase its economic ties with Europe.