The third session of the Hungarian–Philippine Joint Commission on Economic Cooperation took place in Budapest
The third session of the Hungarian-Philippine Joint Commission on Economic Cooperation (JCEC) was held in Budapest and was chaired by István Joó, Deputy State Secretary for Export Development of the Ministry of Foreign Affairs of Hungary and Ceferino S. Rodolfo, Undersecretary for Industry Development and Trade Policy of the Department of Trade and Industry of the Republic of the Philippines.
The Co-Chairs of the JCEC praised the achievements and progress made since the previous JCEC, held in Manila in 2020, and welcomed the strengthening of the bilateral economic relations in the areas of water management, agriculture, energy and education. Among the ASEAN countries, the Philippines was Hungary’s 5th most significant import and 6th most important export partner in 2020, when our bilateral trade exceeded 161 million dollars. The Deputy State Secretary presented that the Hungarian government is providing a 33 million dollar tied aid credit to the Asian country. Within the framework of the development, the water quality of Laguna Lake and the Gulf of Manila will be improved with Hungarian expertise and technology, furthermore Hungarian companies will install water treatment equipment.
During the JCEC, the Hungarian University of Agricultural and Life Sciences signed a cooperation agreement with the Philippine Bureau of Plant Industry and with the municipality of Don Bosco in Metro Manila Parañaque district, while Hungarian Startup Campus Inkubator Zrt signed a partnership agreement with the Philippine QBO Innovation Hub.
Another defining element of the cooperation is the Stipendium Hungaricum (SH) scholarship program of the Government of Hungary, which provides 35 Filipino students with the opportunity of conducting tertiary studies in a Hungarian higher education institution every year. At the end of September 2021, a cooperation agreement on diplomatic training and a Memorandum of Understanding on the peaceful uses of nuclear energy that would pave the way for the training of Filipino students in the framework of the Hungarian Nuclear SH and at the Paks Nuclear Academy were signed between the two countries.