PH, Hungary explore avenues to boost trade, investments
MANILA, Philippines — The Philippines and Hungary on Thursday explored possible avenues to enhance bilateral trade and investments, the Department of Foreign Affairs said.
In a press statement, DFA said a bilateral meeting between Foreign Minister Péter Szijjártó and Foreign Affairs Enrique Manalo was held on June 13.
“We explored possible avenues to enhance bilateral trade and investments – with a focus on agriculture, transportation, and renewable energy. We encouraged Hungary to look into investing in the Philippines in the areas of agriculture, information and communications technology, digital technologies, and water technologies, as well as renewable energy, green metals, electrical vehicle manufacturing, and smart and high-tech light manufacturing,” said DFA.
DFA said Manalo thanked Hungary for its support for the resumption of the PH-EU Free Trade Agreement negotiations.
“We are optimistic that it will also pave the way for a deeper collaboration between the EU, ASEAN, and the Philippines in promoting respect for international law and enhancing joint initiatives in the areas of trade, investment, and climate change,” said DFA.
As one of the Philippines’ active partners in higher education, the DFA noted Hungary’s active cooperation in Science and Technology, with a particular focus on Sustainable Agriculture, Info-communication Technology, and Quantum Technology.
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Article continues after this advertisementWhile the DFA did not detail which specific issues were discussed, it still noted that regional and international “issues that shape the world” were tackled, adding that the importance of rules-based order was also brought up.
“On this note, [Manalo] highlighted that any efforts towards peace and stability in the South China Sea must be anchored on international law, including the 1982 United Nations Convention on the Law of the Sea and the 2016 Arbitral Award, and must respect the legitimate interests and legally settled rights of every state,” said DFA.
