First Vietnam-Hungary Aviation Service Cooperation Project Begins

Vietnam and Hungary on February 15 inaugurated a packaging service for passengers flying abroad at Hanoi’s Noi Bai International Airport, according to the Hungarian Embassy in Vietnam.

 

The project is jointly implemented by Hungary’s Mert Global GMBH and Vietnam’s Noi Bai Airport Aviation Service Co.

 

Total investment of US$60,000 for this project is funded by the Hungarian side.

 

Vietnam and Hungary established diplomatic ties on February 3, 1950. They have signed cooperation agreements on trade, double-taxation avoidance, investment promotion and protection, judicial assistance, and fighting crime. They have also signed a memorandum of understanding on tourism cooperation and a framework agreement on agricultural cooperation.

 

The two countries have witnessed an improvement in their bilateral trade. Their two-way trade increased to US$70 million last year from US$63.8 million in 2003, US$53 million in 2002, US$45.3 million in 2001 and US$40 million in 1999.