Here's Why Viktor Orban's Visit to Argentina is Significant

"There is great untapped potential in Hungarian-Argentine trade relations," according to an analysis by the Oeconomus Economic Research Foundation. PM Viktor Orban is in Argentina this weekend, where he will be attending the inauguration of President Javier Milei on Sunday. The prime minister has already held a series of bilateral talks in Buenos Aries, where the parties have stressed the need to strengthen the international right. This club may soon gain a new member with Milei, under whose leadership Argentina is likely to become a key political ally as well as major trading partner for Hungary.

Buenos Aires, 2023. november 20. Javier Milei, a jobboldali A Szabadság Elõretör párt jelöltje a gyõzelmét ünnepli támogatóival az argentin elnökválasztás második fordulója után, 2023. november 19-én Buenos Airesben. MTI/AP/Natacha Pisarenko Fotó: Natacha Pisarenko

As reported by Oeconomus, Hungary and Argentina signed a bilateral economic cooperation agreement in 2013, which entered into force on 13 September 13, 2015. In the autumn of 2022, Hungarian Foreign Minister Peter Szijjarto visited Buenos Aires,

where he reported that in 2021, following an approximately 80 percent increase, bilateral trade turnover broke the record at more than two hundred million dollars. 

"There is great untapped potential in Hungarian-Argentine trade relations, and the size of exports and trade balance is nearly identical, which indicates low volumes of Argentine imports," the analysis reads.

 

Cover photo: President-elect Javier Milei of the right-wing Freedom Advances party celebrates his victory with supporters after the second round of the Argentine presidential election,  November 19, 2023 in Buenos Aires (Photo: MTI/AP/Natacha Pisarenko)