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3 Jun 2019

Belarus’ construction industry promoting its services in Hungarian market

Belarus’ construction industry promoting its services in Hungarian market
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MINSK, 3 June (BelTA)  - Budapest is hosting a Belarusian delegation headed by Deputy Architecture and Construction Minister Oleg Shvets, BelTA learned from the Belarusian Embassy in Hungary.

The Belarusian delegation will participate in a business forum on 4 June to establish new contacts with real estate business, construction and building materials sectors of Hungary.  The Architecture and Construction Ministry, Belarusian Universal Commodity Exchange, Belarusian Cement Company, Belstroitsentr-Holding, Belstroitsentr, Berezastroimaterialy will lay out thir cooperation offers during the forum.

Meetings are scheduled with the senior officials of the Hungarian ministries responsible for economic development, construction sector, labor market, strategic projects and also with the leadership of the Federation of Constructors, the Chamber of Commerce and Industry, the Budapest Stock Exchange.

The Hungarian construction market has been growing rapidly in recent years. According to the Hungarian Central Statistical Office, the Hungarian construction market expanded by almost 30% in 2017, more than 22% in 2018, and 48.2% in January-March 2019 year-on-year.

The Belarusian-Hungarian company Belmastroi was opened in 2018. Its co-founder is Belstroitsentr. At present, the joint venture is preparing to act as contractor and subcontractor in several promising projects of high-rise construction and erection of cottage-type houses in Hungary. The Belarusian delegation will visit several sites on 5 June where the first houses designed by Belarusians and constructed from Belarusian local materials will be built.

In addition to construction, promising areas of cooperation between Belarus and Hungary are tourism and innovation, agriculture, food industry, pharmaceuticals, financial services, and industrial cooperation.

In January-April 2019, the bilateral trade amounted to $79 million (up 30% year-on-year), the export came at $35.5 million (up 77%), import totaled $43.4 million (up 5%).

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