The Minister stressed that the number of agreements concluded during the visit to Tehran signals that a new chapter has been opened in the history of the two countries’ economic relations.

The MoU on the avoidance of double taxation aims to better regulate taxation and thus make bilateral tax issues more predictable. The agreement covers income and asset taxation and it rules out the double taxation of private persons and enterprises.

Hungary supports the integration of the Islamic Republic into the global economy and it attaches special importance to the development of investment relations between the two countries. This was in the focus of the MoU on investment protection, which was also signed by the parties, Mihály Varga said.

Speaking of a comprehensive tourism agreement, which was the third document concluded, the Minister said it aims to bolster partnership between Government bodies and professional organizations, promote the exchange of expertise and best practices as well as foster education.

In his assessment of the meetings in Tehran, the Minister added that maintaining political dialogue is a must and the current favorable political climate, resulting from the historic nuclear treaty concluded in Vienna on 14 July, will encourage and diversify cooperation.

Peace and stability in the Middle East as well as fostering partnership with the region’s countries are key priorities for Hungary, and we consider Iran to be a stable state in the region and as thus a firm pillar of regional balance, he emphasized.

{source: Hungarian Ministry for National Economy}


[photo credits: “Shazand Petrochemical Arak Petrochemical” by Miladfarhani – Own work. Licensed under CC BY-SA 3.0 via Wikimedia Commons –]