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Hungary signs agreements worth $40 million with Mongolia

Staff writer ▼ | January 27, 2016
Agreements worth a total of some 40 million dollars were signed in Ulan Batorm Minister of Foreign Affairs and Trade Péter Szijjártó said.
Péter Szijjártó
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Péter Szijjártó highlighted the $25 million agreement that enables Hungarian companies to modernise the country's largest agro-pharmaceutical factory, which was also originally built by Hungarian companies decades ago and produces vaccines for the country’s 60 million livestock.

"We see this investment as a gate through the large Mongolian market, which means opportunity to vaccinate, process and export all Mongolian livestock, and which may result in further construction and animal health-related market opportunities for Hungarian enterprises."

The Minister also talked about the $10 million contract signed by the Hungarian Banknote Printing Company, within the framework of which the company will manufacture Mongolian electronic passports and which is a further opportunity for a Hungarian company to establish a foothold on a significant market.

With reference to his meeting with Mongolian Foreign Minister Purevsuren Lundeg, Mr. Szijjártó explained that the main topics of discussion were issues of international politics, and the Hungarian standpoint according to which Europe will lose a lot in the long term if it is unable to develop a pragmatic cooperation with Europe is well known.

"This I something in which Mongolia can provide major assistance," he said.