A statement from the Hungarian embassy in Jakarta received by Antara here on Wednesday mentioned the loan agreement serves as a financial foundation on which to develop gas-fired mobile power plants with the purchase of 15 gas turbines from the Hungarian GE Veresegyház company. This purchase forms part of the 35,000 MW development project to procure fresh electricity capacity for over 4 million Indonesian homes, primarily in areas outside Java, at low rates.
As a result of the large-scale contract, annual bilateral trade numbers between Indonesia and Hungary will multiply this year, and Hungary will become one of the main trade partners of Indonesia in East-Central Europe.
Hungarian export numbers have been on the rise since the government launched its new foreign trade oriented policy in 2014, and there was also a significant breakthrough in Hungarian-Indonesian relations when Hungarian Prime Minister Viktor Orbán paid an official visit to Jakarta in February 2016.
Bilateral trade statistics have risen steadily in the past few years, multiplying almost threefold in 2016.
Hungary and Indonesia signed a contract worth $37.6 million earlier this year, under which Budapest Waterworks will construct and renovate the water purification and management systems of 34 Indonesian settlements.
The latest $217 million deal will strengthen cooperation between the governments of Hungary and Indonesia.
To further enhance this economic partnership, the 4th Session of the Hungarian-Indonesian Joint Economic Committee was held on November 3, and large-scale business forums organized by the Indonesian Chamber of Commerce and the Hungarian National Trading House took place in Jakarta and Bali.
The B2B meetings provided opportunities to forge new business partnerships, especially in the fields of agriculture, information and communications technology, and digital economy.
Hungary and Indonesia are strengthening ties in the field of higher education as well, with Hungary recently launching the Stipendium Hungaricum Scholarship Programme for 50 Indonesian students annually.
Representatives of the best Hungarian and Indonesian universities gathered in Jakarta at the 3rd Indonesian-Hungarian Higher Education Forum in November 2016.
This year marks a new chapter in Indonesian and Hungarian relations through the promotion of bilateral economic cooperation and the engagement of private sectors in this cooperation, where the economies of both countries complement each other. (WDY)
Pewarta: Reporting by Libertina Widyamurti Ambari: I Gusti Bagus Widyantara
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