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Cambodia, Hungary sign agreement on investment protection

Staff writer |
Cambodia and Hungary reached an agreement on mutual investment protection, which will pave the way for the two countries to boost economic relations.

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The agreement was inked between Sok Chenda Sophea, secretary general of the Council for the Development of Cambodia, and visiting Hungarian Minister for Foreign Affairs and Trade Peter Szijjarto, under the presence of Cambodian Deputy Prime Minister and Foreign Minister Hor Namhong.

Peter Szijjarto said the two countries would explore cooperation in agriculture and food industry, pharmaceuticals, information technology and engineering science.

The Hungarian Eximbank has opened its credit line of $27 million to facilitate the business-to-business cooperation between Cambodian and Hungarian companies.

Also on Thursday, a Hungary's trade representative office was opened in Phnom Penh to assist Hungarian and Cambodian companies to work together, he said.

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