(ECO) TURKEY & HUNGARY SIGN GOODWILL PROTOCOL.BUDAPEST, Nov 16, 2009 (TUR tur: see ibex. ) -- Turkish Industry & Trade Minister Nihat Ergun and Hungarian National Development & Economy Minister Istvan Varga signed Turkey-Hungary Good-Will Protocol in Budapest on Monday. Ergun told reporters that global economic crisis affected economic relations between Turkey and Hungary negatively, adding that mutual trade volume of the two countries dropped in half. Ergun said that trade volume would increase in coming years, adding that both countries had the political will for this. Noting that Turkey-Hungary Business Council meeting would be held on Tuesday, Ergun said that Turkish and Hungarian businessmen would discuss the areas they could cooperate during the meeting. Ergun said that a technical follow-up committee would be set up within the scope of the Good-Will Protocol, adding that the committee would work to eliminate the difficulties which Turkish and Hungarian businessmen faced with. Also, Hungarian minister said that trade volume between Turkey and Hungary was two billion USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. in 2008 which was a pleasing rate, but this dropped nearly 50 percent due to global economic crisis. Varga said that the trade volume would be normal again after the influences of global economic crisis diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. . (GC) (THROUGH ASIA PULSE) |
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