Business news

MINSK, 11 April (BelTA) – Minsk would like to see more Belarusian products on sale in retail chains of Budapest. This issue will be high on the agenda of the Days of Minsk in Budapest on 19-21 April, Minsk Vice Mayor Alexander Krepak said at a press conference on 10 April, BelTA has learned.

“The bilateral trade has been gaining momentum. Last year it rose by 11% to reach about $43 million. The commodity exports increased by 8.2%. There are seven enterprises with Hungarian capital in Minsk. For now, Minsk is running a deficit in the trade with Budapest. But we have been working to reduce this gap,” said Alexander Krepak.

In this regard, one of the main goals is to increase the presence of Belarusian producers in Budapest’s retail chains. “Belarus is represented only by one commercial network Smak there. It is planning to open a new facility in the Hungarian capital”, explained Minsk Vice Mayor.

Minsk may increase its share on Budapest’s market through the development of warehouse premises that will further distribute products to the city’s retail chains. “Preliminary negotiations have been already conducted. During the Days of Minsk we are going to discuss the product range in detail. We know what to offer. Hungary has a strong interest in supplies of dairy and fish products. Belarusian ryazhenka is especially popular among consumers. It just flies off the shelves of Hungarian stores,” said Alexander Krepak.

According to him, Hungary is primarily interested in direct supplies. For the time being Belarusian goods reach this country’s market through Germany.

Hungary’s major imports from Belarus are tractors, timber products and plywood, parts of motor vehicles and combustion engines. Last year it started exporting cruise, tour and cargo ships, ferry-boats, synthetic fabrics, tires, telephone and telegraph electric devices and others. Belarus’ major imports are medicines and other pharmaceutical products, electrical transformers, parts of motor vehicles, automobiles, calculating machines and their blocks, and since 2017 live plants, fruit, nuts, massage appliances, central-heating boilers. Services trade has been on the rise too.