The Philippines and Hungary held a progress assessment of their bilateral relations, with the intent of exploring new avenues for economic collaboration.
Department of Trade and Industry Undersecretary Allan Gepty noted during the 6th Joint Commission on Economic Cooperation (JCEC) from Dec. 2 to 3, 2024 an increase in bilateral trade between the Philippines and Hungary.
“We have seen not just an increase in investments but also active engagement of the private sector including the establishment of the Philippines-Hungary Business Council,” he said.
The meeting was co-chaired by Hungarian Ministry of Foreign Affairs and Trade deputy state secretary for external economic relations Katalin Bihari.
Both parties highlighted the steady growth of trade between the Philippines and Hungary over the past three years.