TEHRAN (Dispatches)- Senior Iranian and Hungarian officials have signed a memorandum of understanding (MoU) to persuade and support investment by the two countries' private sectors.
The MoU was signed by Iranian Economy Minister Massoud Karbasian and his Hungarian counterpart Mihaly Varga in Tehran.
Meanwhile, a joint venture contract and investment in the field of agriculture and agro-industry was signed between Hungarian LAC Holding and Iranian 'Nika Basir Payam'.
The MoU focuses on persuasion and support for investment between Iran and Hungary, and joint venture contract and investment in the field of agriculture between private sectors of the two countries.
And also, Hungary’s bus maker Ikarus has signed an agreement with Iran for the export of 1,000 buses, one third of its full-year production capacity, although it must adapt to local technical requirements.
The agreement was signed during a visit to Tehran by a high-profile Hungarian trade and diplomatic delegation headed by the country’s Minister for National Economy Mihály Varga.
"These agreements will help investment atmosphere between the two countries and in view of the Hungarian membership in European Union, it will reduce the risk of investment," the Iranian economy minister added.