Minister of Industry, Mines and Trade, Mohammad-Reza Nematzadeh said on Monday that the first Iran-Hungary economic commission will convene after 12 years of halt.

He made the remarks on the sidelines of his meeting with visiting Hungarian Foreign Minister and Commerce, Peter Szijjarto.
Speaking to reporters, he said Iran-Hungary joint economic commission will convene in Budapest. It was closed for about 10 to 12 years.
He expressed the hope that after formation of the joint economic commission, the two countries businessmen and industrialists would attend commission to help broaden scope of mutual cooperation.
Trade between Iran and Hungary is very low, the level of cooperation should be initiated from the zero point, he said.
Iran and Hungary continued cooperation even at a low scale during economic sanctions, he said.
About half of Hungarian ministers along with representatives from some 80 companies included in the 100-member delegattion currently on a visit to Iran and have signed some eight memorandums of understanding on various economic fields, he said.
Hungary is very strong in terms of industrial know-how, Nematzadeh said.
Some four thousands Iranian students have been graduated from Hungarian universities and some 1,116 others are studying in the country, he said.
Hungary is to award scholarships to some 100 Iranian students to continue higher education studies in the country, he said.