Iran and Hungary have signed an agreement on support for investment between the two countries and a joint venture contract in the field of agriculture,a media report said.

Economy Ministers of Iran and Hungary Masoud Karbasian and Mihaly Varga signed the agreement on Monday, reported Irna.

Meanwhile, a joint venture contract and investment in the field of agriculture and agro-industry was signed between Hungarian LAC Holding and Iranian Nika Basir Payam.

Karbasian said that these agreements will help investment atmosphere between the two countries and given the Hungarian membership in European Union, it will reduce risk of investment.