The sides agreed that strengthening partnerships in the areas of information technology, water management, food production and animal health can foster closer economic ties between the two countries, Bertalan Havasi, the PMʼs press chief, told MTI.

The parties also voiced their support for the use of tied aid for developments, he added.

The Mongolian president, a recently elected former martial arts star, is in Budapest for the World Judo Championships, which the capital is hosting until September 3.

Also Tuesday, Minister of Foreign Affairs and Trade Péter Szijjártó met with his Mongolian counterpart Lundeg Purevsuren in Budapest.

Hungary firmly supports the Mongolian governmentʼs endeavor to establish a strategic cooperation with the European Union, Szijjártó said in a statement. Mongolia wants to establish this strategic cooperation with the EU based on its "third neighbor" policy, which aims to build relationships with countries other than Russia and China, he added.

Economic ties between Hungary and Mongolia could benefit from partnerships in the areas of water management, animal health and information technology, Szijjártó said.