6. Joint Economic Council meeting between Hungary and Turkey was held in the Hungarian capital Budapest. The memorandum of understanding was signed between Minister of Industry and Technology Mustafa Varank and Hungary’s Foreign Affairs and Trade Minister Péter Szijjártó. In addition, KOSGEB and the Hungarian Export Promotion Agency (HEPA) signed an action plan. The action plan was signed by the President of KOSGEB Prof. Dr. Cevahir Uzkurt and the President of HEPA Balázs Hendrich.Through this action plan signed under the auspices of Minister of Industry and Technology Varank and Hungarian Minister Szijjártó, various cooperation activities will be carried out between Turkish and Hungarian SMEs.

Memorandum of Understanding

A memorandum of understanding was signed between KOSGEB and HEPA on 9 October 2018.Within the scope of this Memorandum of Understanding, an action plan defining the activities that can be done to strengthen the close trade and economic relations between Turkey and Hungary signed.

What's in the Action Plan?

The action plan aims to transfer mutual knowledge and experience between Turkish and Hungarian SMEs and to carry out various cooperation activities.

According to the action plan, technical and commercial cooperation will be established with cooperation and twinning activities to be organized between SMEs of the two countries. Thus, SMEs with increased competitiveness will contribute to economic growth, employment and welfare in both countries.

Good practices will be shared

With the action plan, training programs for SMEs and entrepreneurs will be organized. Expert exchange programs will be held to share good practices on SME support mechanisms. Moreover, mutual business trips will be organized in order to increase mutual trade volumes of SMEs of the two countries.

Twinning Activities

Within the scope of the action plan from 1 September to 31 December 2019 health-themed events will be held in Turkey. HungaroMED exhibition will be opened in Hungary. Hungarian Promotion Day will be held. The twinning event will be organized under the title of Match4Industry.