Bao Tram: What were the most significant milestones in Vietnam-Hungary relations over the past 75 years?

Péter Szijjártó: We have had diplomatic relations for a long time with Vietnam. I can say without any exaggeration that this has been a success story. Why was it a success story? Because this relationship was always based on mutual respect. We have always aimed at reaching mutual benefit. We have never interfered in each other’s domestic issues and this mutually respectful political cooperation, without any kind of political debate, has opened up the possibility of getting a lot of economic benefit out of the relationship. So Vietnam has become a very important trading partner, with around 1 billion USD worth of trade. We are seeing a huge trade growth – 17% last year, 66% during January. Hungarian companies are increasing their presence in medical devices, food, pharmaceuticals, and the defense industry. Electronics imported from Vietnam play an important role in Hungary’s economy as well. I think we both profit from this cooperation and this is a good basis for continuing.

Bao Tram: After Vietnamese Prime Minister Pham Minh Chinh's official visit to Hungary early last year, leaders of both countries agreed to elevate the comprehensive partnership established in 2018 to a new level, with a focus on economic-trade-investment cooperation. Have there been any specific outcomes from this cooperation so far?

Péter Szijjártó: First of all, high-level contacts must be intensified. We agreed that this year we're going to hold the 10th meeting of our joint economic commission. Both the president and the speaker of our National Assembly will visit Vietnam this year. I have a strong promise from your foreign minister to reciprocate my visit. The goal is to increase trade between the two countries. There will be a series of expert level negotiations on how Hungarian food product exports to Vietnam can be increased, taking into consideration your very strict food regulations, which we respect. Your pharmaceutical regulations have changed in the favor of Hungarian pharmaceutical companies, and we see a lot of promise in future nuclear cooperation, which is a totally new area of cooperation for us. Hungary has been using nuclear energy for 50 years and we are investing heavily in our nuclear sector by constructing a new nuclear power plant, while Vietnam is still considering what nuclear power to use, which gives us a chance for extensive cooperation in nuclear training and nuclear technologies. This is something we’re going to add to our current areas of cooperation.

Bao Tram: Vietnam is Hungary's leading partner in Southeast Asia, and Vietnam is ready to be Hungary’s gateway to ASEAN. The two are now connected by the EVFTA. What cooperation opportunities does that create?

Péter Szijjártó: I think it's very important that the European Union and Vietnam have signed a Free Trade Agreement that’s already in force. We still lack ratification from seven countries for the EU-Vietnam Investment Protection Agreement. Hungary was proud to be the first country in the European Union to ratify that agreement. When the agreement is ratified by everyone and the EVFTA takes effect, that will give much more legal certainty to Hungarian and other investors to continue investing in Vietnam. We’re all committed to behaving responsibly when it comes to the protection of the environment, but we have to balance environmental protection and economic development. When it comes to artificial intelligence and digitalization, we have to make sure these bring maximal benefits without entirely replacing human beings. So allowing AI or digitalization to take over human capacities is not something we want.

Bao Tram:  What sectors do you think have the most potential for future economic collaboration between Vietnam and Hungary?

Péter Szijjártó: I'm pretty sure that nuclear power will open up totally new opportunities because the demand for electricity in the world is increasing very rapidly. There's an expectation that this rapidly growing electricity demand will be supplied in a balanced, dependable, cheap, and environmentally protective way. The only way you can satisfy all four of these conditions is with nuclear power. So investments and cooperation in nuclear power will be extremely important, because this is the key to the future energy security and the future competitiveness of our countries. Hungary has been dealing with nuclear energy for more than 50 years. We have a lot of experience, a lot of technology, and a lot of training capacity. So, Hungary-Vietnam cooperation in nuclear technology will contribute to the success of both economies.

Bao Tram: Thank you very much, Mr. Szijjártó, for taking the time with VOV24/7.

Péter Szijjártó: Thank you. I really appreciate it.