Business news

MINSK, 21 September (BelTA) – Hungarian and Belarusian businessmen are willing to develop cooperation, Natalia Nikandrova, the director of the National Agency of Investment and Privatization (NAIP) of Belarus, said after the Belarus-Hungary business forum held as part of the session of the Belarus-Hungary intergovernmental commission for economic cooperation, BelTA learned from the NAIP.

“The list of participants of the forum confirms that the businessmen of the two countries are eager to cooperate and further intensify the economic ties between Belarus and Hungary. Unfortunately, today we do not talk about serious investment. We are laying the groundwork for the future,” Natalia Nikandrova explained.

The participants of the forum discussed the current state of the trade and economic cooperation between the two countries, the opportunities for bolstering the bilateral ties, and the implementation of joint projects in the most promising areas.

The Hungarian side expressed interest in expanding the cooperation in railway sector, including freight services and modernization of infrastructure. Belarusian businessmen focused their attention on the export of metal products, hardware products, engines, household appliances, and farm machines to Hungary.

“Belarusian tractors are well known to Hungarian farmers. Belarus-made vehicles account for over 50% of the Hungarian market of tractors. More than 1,000 Belarus tractors are sold in Hungary per year. Our vehicles are reliable and simple to use. Moreover, their price is reasonable,” Ambassador Extraordinary and Plenipotentiary of Belarus to Hungary Alexander Khainovsky noted.

The parties also agreed to consider additional opportunities for cooperation in healthcare, first of all, pharmaceutics and production of medical equipment. The Hungarian companies Egis Pharmaceuticals and Gedeon Richter have already found their niches on the Belarusian market. Last year, Belarus imported some $40 million of Hungarian medical products.

The NAIP said that Hungary firmly holds its position among the top thirty Belarus’ trade partners. In 2014, the mutual trade in goods and services made up some $250 million.