Foreign Minister Dr AK Abdul Momen and his Hungarian counterpart Peter Szijjarto will hold the meeting at State guesthouse Padma beginning at 2:45pm.
It is expected that more than two instruments will be signed after the bilateral meeting.
The Hungarian Minister of Foreign Affairs and Trade is scheduled to arrive here at around 00:30am on Thursday by a chartered flight, a senior official told UNB.
Foreign Secretary Masud Bin Momen will receive the Hungarian Foreign Minister and his entourage at Hazrat Shahjalal International Airport.
The Hungarian Foreign Minister will visit the Father of the Nation Bangabandhu Sheikh Mujibur Rahman Memorial Museum in the morning.
He will pay tribute to the memories of the Father of the Nation and his family members who were brutally killed in 1975.
After that he will meet Commerce Minister Tipu Munshi at the Ministry of Commerce from 11am to 11:30am.
Foreign Minister Momen will host a lunch in honour of the visiting Hungarian Minister and his delegation members.
The two Foreign Ministers will meet the press after the bilateral meeting.
The Hungarian Minister is scheduled to depart Dhaka at 6:30pm on Thursday.
This is the first Minister level visit to Bangladesh amid coronavirus pandemic worldwide.
Bangladesh maintains friendly relations with Hungary since independence.
Also read: Hungarian FM due Thursday; bilateral documents to be signed
Hungary supported the cause of Bangladesh during the War of Liberation and was one of the first countries to accord recognition.
The diplomatic relations were established as early as 29 January 1972.