The government of Armenia approved, in its  Cabinet meeting Thursday, the agreement with the government of Hungary on economic cooperation.

The respective rationale states that this agreement provides an opportunity to develop and deepen long-term economic relations between the two countries on the basis of equality and mutual benefit—and in numerous domains of cooperation of mutual interest.

Also, the agreement envisages the development and diversification of mutually beneficial cooperation in all economic sectors of mutual interest.

The agreement envisages as well the setting up of a joint economic intergovernmental commission in order to coordinate and promote bilateral trade and economic cooperation between Armenia and Hungary.