Logo of Phnom Penh Post newspaper Phnom Penh Post - Hungary moves to closer economic ties

Hungary moves to closer economic ties

Hungary moves to closer economic ties

AS the curtain comes down on the Takhmao Trade Fair, Hungarian government officials

and business leaders will descend on the capital to unveil a mini-trade fair of their

own.

Beginning April 21 for three days, the Hungarian Embassy will host a series of "contact

days" to bolster bi-lateral economic and commercial ties.

"In the 1980s and the beginning of the 1990s, the role of the Hungarian diplomats

here was to concentrate on political relations with Cambodia," Ferenc Blauman,

the Charge d'Affaires, said. "Now we want to concentrate on economic and commercial

relations."

Thirty-one top Hungarian companies - mostly from the agricultural and pharmaceutical

sectors - will pitch their goods to the Cambodian public and to seek local partnerships.

The contact days, sponsored by the Hungarian Ministry of Industry and Trade, and

organized by Angkor Trade - a Budapest-based firm which promotes economic and trade

links between the two nations - will include pharmaceutical brand names such as Alkaloida

and Richter Gedeon.

According to Blauman, the event follows recent overtures made by Budapest toward

Phnom Penh to press ahead in the sphere of trade relations. In the 1980s, these had

flourished on a barter-based, state-trading system, but have since sagged.

The groundwork for renewed contact was laid in November during a visit by Soos Karoly

Attila, Secretary of State for Industry and Trade, who led a team of Hungarian businessmen

in talks with the Royal Government.

In January, Attila invited his Cambodian counterpart, Cham Prasidh, for further talks

on home soil. Blauman said that Prasidh would probably be going to Budapest in August.

Hungary was one of the first countries to recognize the People's Republic of Kampuchea,

and has maintained an embassy here since 1979.

However, due to post-Cold War budgetary constraints, Blauman said its diplomatic

corps at several overseas postings, including Phnom Penh, has had to be scaled back.

He said that while most of the Hungarian companies hoped to establish export outlets

in Cambodia, Babolna - which specialized in poultry farming - had already struck

a deal to raise produce for consumption on the local market.

"The quality of the meat which is produced in Cambodia is very poor, because

there is no adequate inspection of meat here," said Blauman.

"With the rapid increase of tourism to Cambodia, there will be a greater demand

for good quality meat. A company like Babolna would import industry standard slaughterhouses

equipped with quality control laboratories."

Cambodian viniculture will also be on the agenda of the contact days.

"The French experimented with vineyards in the 1950s, and were not very successful,"

Blauman said. "There have been so many changes in the way wine is produced,

maybe these new methods for the cultivation of grape can be used for wine production

in Cambodia."

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty