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RUSSIA FOR NEW LARGESCALE PROJECTS WITH HUNGARY

Friday, February 3, 2017

A way to reverse a decline in Russian-Hungarian trade would be to implement new large-scale investment projects, the Russian health minister told business daily Világgazdaság ahead of a visit by the Russian president. Veronika Skvortsova noted cooperation developing between Russia and Hungary in the vehicle manufacturing and energy industries.

She highlighted a sevenfold increase in Russia’s vehicle exports to Hungary during the first 11 months of 2016 and the success of Hungarian drug makers Richter Gedeon and Egis on the Russian market.

Hungary has been Russia’s leading economic and trading partner in central Europe for decades, she said, noting that Russian investments in Hungary has so far totalled close to one billion dollars.

HUNGARY TO BOOST COOPERATION IN SPACE RESEARCH WITH RUSSIA

Hungary’s government decided to intensify cooperation with Russia in space research and the aerospace industry, the official gazette Magyar Közlöny reported.

The government has regrouped 192 million forints (EUR 618,000) in this year’s budget for performing the diplomatic tasks related to such cooperation.

(MTVA)

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