Hungary–Malaysia relations explained

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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]

History

Diplomatic relations between the two countries have been established since 1969,[3] with the Malaysian embassy established in 1993.[4] Despite the closure of Hungarian Embassy in Malaysia to cut state spending,[5] the relations still remain via the Taman Melawati Farmer's Market in Malaysia.[4] In 2015, the Hungarian embassy was re-opened.[6] [7] [8]

Economic relations

Both countries are in the process of enhancing their bilateral and economic relations. In 2012, Hungary stands at the 31st source of imports for Malaysia.[4] In 1993, both Hungary and Malaysia signed a document for the promotion and protection of investments in Kuala Lumpur,[9] the agreement to avoid double taxation and prevention of fiscal evasion in term with also coming into effect on the same year.[10] Before the economic crisis, the total bilateral trade amounted to U$730 million and dropped substantially to U$400–450 million during the economic crisis.[3] Continuous efforts have been undertaken to reach pre-crisis levels and in 2011, it has increased to U$570 million.[3] The Hungarian subsidiary of Sony Corp. also moved their manufacturing plants to Malaysia.[11]

Education

In 2018, a memorandum of understanding (MoU) on higher education was signed to facilitate the recognition process of universities in both countries and to establishing collaboration in scientific, technical and administrative fields. Through the MoU, 40 scholarships were also being offered by the Hungarian government starting from the academic year of 2018.[12]

See also

References

  1. Web site: Home. Embassy of Hungary Kuala Lumpur. 12 December 2017.
  2. Web site: Official Website of Embassy of Malaysia, Budapest. Ministry of Foreign Affairs, Malaysia. 13 January 2014.
  3. Web site: Hungary and the countries of ASEAN. Diplomacy & Trade. 8 June 2012. 13 January 2014. Sándor Laczkó.
  4. Web site: Malaysia waiting to be discovered. rkinga. The Budapest Times. 4 September 2013. 13 January 2014. https://web.archive.org/web/20151119214153/http://www.budapesttimes.hu/2013/09/04/malaysia-waiting-to-be-discovered/. 19 November 2015. dead.
  5. Web site: Hungary to close embassy in Malaysia. The Star. 17 June 2009. 13 January 2014.
  6. Web site: Hungary to reopen its KL embassy . . 9 November 2011 . 13 January 2014 . dead . https://web.archive.org/web/20140113203251/http://www.nst.com.my/latest/hungary-to-reopen-its-kl-embassy-1.2204 . 13 January 2014 . dmy-all .
  7. Web site: Hungarian Govt to re-open embassy in Malaysia. Esther Landau. New Straits Times. 16 January 2015. 17 January 2015.
  8. Web site: Hungary to reopen embassy. Paul Gabriel. The Star. 25 May 2015. 17 January 2015.
  9. Web site: 1993 AGREEMENT BETWEEN THE REPUBLIC OF HUNGARY AND MALAYSIA FOR THE PROMOTION AND PROTECTION OF INVESTMENTS. National University of Singapore. 19 February 1993. 13 January 2014. 4 March 2016. https://web.archive.org/web/20160304022733/http://cil.nus.edu.sg/rp/id/pdf/1993%20BIT%20Hungary-Malaysia-pdf.pdf. dead.
  10. Web site: 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. Inland Revenue Board of Malaysia. 22 May 1989. 13 January 2014.
  11. Web site: Sony moving work from plant in Hungary to Malaysia. ECN. The Associated Press. 6 February 2010. 13 January 2014. 25 February 2018. https://web.archive.org/web/20180225064835/https://www.ecnmag.com/news/2010/06/sony-moving-work-plant-hungary-malaysia. dead.
  12. Web site: Malaysia, Hungary sign MoU on higher education. Bernama. The Sun. 23 February 2018. 23 February 2018. https://web.archive.org/web/20180223182810/http://www.thesundaily.my/news/2018/02/23/malaysia-hungary-sign-mou-higher-education. 23 February 2018. dead.

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