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Hungary–Malaysia relations

 

Hungary–Malaysia relations

Hungary–Malaysia relations
Map indicating locations of Hungary and Malaysia

Hungary

Malaysia

Hungary–Malaysia relations are foreign relations between Hungary and Malaysia. Hungary has an embassy in Kuala Lumpur,[1] and Malaysia has an embassy in Budapest.[2]

Contents

  • History 1
  • Economic relations 2
  • External links 3
  • References 4

History

Diplomatic relations between the two countries has been establish since 1969,[3] with the Malaysian embassy establish in 1993.[4] Despite the Hungarian embassy been closed in 2009 due to economic crisis,[5] the relations still remain via the Hungarian embassy in Indonesia.[4] In 2011, the Hungarian embassy has been reopen.[1]

Economic relations

Both countries in the process to enhance in the bilateral and economic relations. In 2012, Hungary stand at the 31st import source for Malaysia.[4] In 1993, both Hungary and Malaysia has signed a document for the promotion and protection of investments in Kuala Lumpur,[6] the agreement to avoid double taxation and prevention of fiscal evasion with respect to taxes on income also effective on the same year.[7] Before the economic crisis, the total of bilateral trade has reached U$730 million when it dropped substantially to U$400–450 million.[3] Continuous efforts have been undertaken to reach back and in 2011, it has increase to U$570 million.[3] The Hungarian subsidiary of Sony Corp. also moved their manufacturing plants to Malaysia.[8]

External links

  • Malaysia Ministry of Foreign Affairs about the relation with Hungary

References

  1. ^ a b "Hungary to reopen its KL embassy".  
  2. ^ "Official Website of Embassy of Malaysia, Budapest".  
  3. ^ a b c Sándor Laczkó (8 June 2012). "Hungary and the countries of ASEAN". Diplomacy & Trade. Retrieved 13 January 2014. 
  4. ^ a b c rkinga (4 September 2013). "Malaysia waiting to be discovered".  
  5. ^ "Hungary to close embassy in Malaysia".  
  6. ^ "1993 AGREEMENT BETWEEN THE REPUBLIC OF HUNGARY AND MALAYSIA FOR THE PROMOTION AND PROTECTION OF INVESTMENTS" ( 
  7. ^ "AGREEMENT BETWEEN THE GOVERNMENT OF MALAYSIA AND THE GOVERNMENT OF THE HUNGARIAN PEOPLE'S REPUBLIC FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME" (PDF). Inland Revenue Board of Malaysia. 22 May 1989. Retrieved 13 January 2014. 
  8. ^ "Sony moving work from plant in Hungary to Malaysia".  
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