/ / News

Belarus, Hungary to intensify industrial cooperation

MINSK, 26 October (BelTA) – Belarus and Hungary are expected to intensify industrial integration and cooperation. The issue was discussed at a meeting of the Belarusian-Hungarian intergovernmental commission for economic cooperation on 26 October, BelTA has learnt.

The meeting was headed by Deputy Foreign Minister Elena Kupchina and State Secretary of the Ministry for National Economy of Hungary Roza Nagy.

According to Elena Kupchina, Belarus praises Hungary’s adoption of its new economic strategy, where the emphasis is made on the rapidly growing Eastern markets. “We would like Belarus to be in the focus of your attention, too,” she said.

In her words, the two countries have a lot in common: territory, economic potential, mentality, dependence on the imports of energy resources. Now we can revive the links we had in the past. Belarus and Hungary have the potential for deeper cooperation in the auto-industry, agricultural machinery, agriculture, and woodworking. It is important that we step up tourism and investment cooperation,” said Elena Kupchina.

She noted that at the moment the bilateral trade is not impressive. In 2011, the trade between Belarus and Hungary amounted to $222 million. In 2008, the trade was 1.5 times higher. “We are far below the level that we could reach in the bilateral trade,” said the Deputy Minister. In January-August 2012, the trade increased by 6.5%, but this is negligible. We need to boost trade, including through enhanced integration and cooperation links between industrial enterprises of the two countries,” she said.

In addition, Elena Kupchina considers it important to develop personal contacts between the members of the working groups of the intergovernmental commission, to move away from formal meetings, keep in touch with partners. She stressed that her personal meetings with Ms Roza Nagy also contributed towards the strengthening of bilateral contacts.

For her part, the State Secretary of the Ministry of National Economy of Hungary Ms Nagy Rosa stressed that Hungary will do its utmost to actively develop cooperation with Belarus, to increase the bilateral trade.