Daily Management Review

Cambodia Signs An Agreement With Hungary For Mutual Investment


01/27/2016


Hungary and Cambodia to boost their economy through trade confirms an agreement.



On the 14th of January 2016 Hungary and Cambodia signed onto a “mutual investment protection” agreement whereby both the countries will boost their economy by paving the way through “trade relations”.
 
The dignitaries present during the signing event, who represented their respective countries were the “secretary general of the Council for the Development of Cambodia”, Sok Chenda Sophea along with the Hungarian Foreign Affairs & Trade minister, Szijjarto, who was visiting the country, while the Foreign cum the Deputy Prime Minister of Cambodia, Hor Namhong witnessed the same. The latter also commented before the press after the “signing ceremony” was over:
"After this agreement, there will be more trade exchanges between the two countries.”
 
Namhong believes that the agreement will enable more supply of Cambodian garment, footwear and milled rice to Hungarian market.
 
While, in the words of Peter Szijjarto:
"Signing the agreement on mutual protection of investment is a very good basis."
 
He also added that there is a possibility of exploring a co-operation between both the countries in various market sectors such as the food industry, the agricultural development, the pharmaceuticals, along with engineering science and information technology. In fact, Szijjarto also informed that in an attempt to “facilitate” a “business-to-business cooperation” between both the Hungarian and Cambodian companies, the Eximbank of Hungary has started a “credit line” worth “27 million U.S. dollars”.
 
On the same day of the agreement signing, Phnom Penh saw the inauguration of “a Hungary's trade representative office” so that the companies from both the countries can avail help in working together.






References:
http://news.xinhuanet.com/
 







Science & Technology

Facebook may start production of its own microprocessors

Long-Term Alcohol Monitoring Could Be Possible With A New Injectable Chip Developed By U.S. Researchers

Sweden Now Has The First Electrified Road In The World

Over 270,000 Account Globally Banned From Twitter For Promotion Of Terrorism

Device Capable Of Hearing The Inner Voice Developed By Researchers

New mobile technologies will warn about natural disasters

The brewing industry welcomes blockchain

Asset-Sharing App Of Ryder Is Meant For Commercial Vehicles

Credit Suisse: China will become the leader in AI sphere

Five new technologies that will change the world

World Politics

World & Politics

Debates over Google are heating as a new EU directive is about to be introduced

Will Merkel accept Macron's plans for Europe?

USA and China are pushing North Korea to denuclearization

Germany's dilemma: Will the atomic energy win?

A Forceful Response To Syria Attack Will Be Given By U.S.: Trump

Is Trump’s Maximum Pressure Tactic On North Korea Succeeding Because Of China?

Why are Turkey-EU relations moving back?

Record-Breaking $39 Million raised for Rare Cancer Research in 2018 by Cycle for Survival