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Business news

24 Apr 2019

Belarus’ industrial, investment potential presented in Hungary

Belarus’ industrial, investment potential presented in Hungary
Photo courtesy of the Embassy of Belarus in Hungary

MINSK, 24 April (BelTA) – A delegation of business circles of Belarus is in Budapest on a visit on 22-25 April. The visit has been arranged with assistance of the Belarusian embassy in Hungary, BelTA has learned.

The delegation includes about 50 people representing Vitebsk Oblast, the Republican Confederation of Entrepreneurship, the China-Belarus industrial park Great Stone, the free economic zones Grodnoinvest and Brest, regional unions of employers, individual industrialists and entrepreneurs.

A Belarusian-Hungarian business forum took place on 24 April. It was organized by the embassy in association with the Eastern Europe Business Club. The Hungarian side was represented by the Ministry of Foreign Affairs and Trade, the Hungarian Chamber of Commerce and Industry (HCCI), the national association of employers, the association of manufacturers of automobile components as well as over 80 Hungarian companies. Representatives of the industrial and agricultural sector, telecommunications and IT, automobile components industry, civil engineering and banking, Hungarian travel agencies also took part in the event.

Ambassador of Belarus to Hungary Aleksandr Ponomarev addressed participants of the forum with an opening speech. He underscored the importance of the fact that business circles of Belarus and Hungary had heard the call of the political leadership of the two countries and had come up with the initiative to arrange the large-scale business forum even without timing it to any bilateral visits at the government level. The ambassador said he was confident that the event’s success would rely on the formula “Quality out of quantity”.

Aleksandr Ponomarev noted that the agreement on assistance with and mutual protection of investments, which was signed by the Belarusian and Hungarian ministers of foreign affairs in January 2019, laid down the foundation for invigorating investment activities.

Head of the Eastern Europe Department in the Hungarian Ministry of Foreign Affairs and Trade Otto Rona emphasized the serious attention the ministry pays to work with Belarus. He mentioned the key trade and economic projects the two sides are working on. The Hungarian diplomat mentioned the importance of establishing trustful contacts during the forum on the basis of personal acquaintanceship.

A presentation of Belarus’ industrial and investment potential and opportunities for cooperation with Vitebsk Oblast, the free economic zones Grodnoinvest and Brest, the China-Belarus industrial park Great Stone, the Belarusian steel mill BMZ took place on the sidelines of the forum. B2B negotiations between Belarusian and Hungarian companies followed.

Plans have been made to continue business negotiations with Hungarian partners. A visit to the Budapest Chamber of Commerce and Industry (BCCI) will be arranged.

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