Industry and Technology Minister Mustafa Varank is scheduled to go to Budapest Wednesday to co-chair the Turkey-Hungary Joint Economic Commission's (JEC) sixth term meeting.

According to a statement released by the ministry, in addition to attending the Turkey-Hungary Joint Economic Commission meeting in Budapest on June 25-26, Varank will also meet with Turkish and Hungarian businesspeople to provide information regarding opportunities in Turkey.

Varank is scheduled to hold bilateral meetings with Hungarian Deputy Prime Minister Zsolt Semjen, Foreign Affairs and Trade Minister Peter Szijjarto, and Innovation and Technology Minister Laszlo Palkovics to add to the existing cooperation between Turkey and Hungary and to detect cooperation opportunities in third countries.

The talks are of great importance in terms of achieving the $6 billion trade volume set during President Recep Tayyip Erdoğan's visit to Budapest in October 2018 after Turkish-Hungarian relations were raised to the level of strategic partnership in 2013. The contacts are also considered important in terms of addressing economy and trade relations between the two countries ahead of the fourth Turkey-Hungary High-Level Strategic Cooperation Council meeting, which is expected to be held at the end of the year.