Business news

Jozsef Kovacs stressed that the industrial and agricultural products of Hungary and Belarus are well-known on the market as the two states have managed to preserve their potential in these sectors. “We are considering new joint projects. One of them is a project in breeding livestock with good genetics. The demand for such livestock in Russia and other CIS member states is great,” the director of the department said.

In his words, the pharmaceutical sector looks promising for Hungary-Belarus cooperation as well. Hungarian businessmen held a number of meetings with Belarusian counterparts during the Budapest Days in Minsk. Hungary does not rule out the possibility of launching the production of some types of medicines in Belarus.

Jozsef Kovacs noted that the Chamber of Commerce and Industry of Budapest ad the National Center of Legal Information of Belarus have a valid agreement which provided Hungarian entrepreneurs with an opportunity to study the Belarusian legislation of interest.

The prospects of Hungary-Belarus cooperation in agriculture were one of the central themes of the business forum. Thus, for instance, director for the selection and sales of hybrid seed corn and other agricultural crops at Hungaroseed Kft Gabor Marosi told the participants of the meetings about the successful 10-year experience of operation on the Belarusian market. The company is one of the biggest suppliers of corn seed. Early-season hybrid corn is supplied virtually to every region of Belarus and has a number of competitive advantages. “Last year the company supplied corn seeds which were used to sow 11% of the sowing area in Belarus. We consider setting up a joint company in the future,” said Gabor Marosi.

The ceremony to open the Belarusian-Hungarian business forum was attended by Minsk Mayor Andrei Shorets and Budapest Mayor Istvan Tarlos. The two mayors agreed that the business forum would help strengthen business contacts and outline ways for the implementation of concrete projects. Istvan Tarlos stated that the turnover of goods and services between Hungary and Belarus has been on the downturn in the past two years. “In autumn 2017 Budapest is expected to host a meeting of the intergovernmental commission on economic development. I believe this event will help us reverse the negative trends. We will do our best to do it,” the Budapest mayor said. He invited Andrei Shorets to visit the Hungarian capital in spring 2018 for further strengthening of bilateral cooperation.

The business forum is taking place in Minsk as part of the Budapest Days in the Belarusian capital. On 11 April the forum included the presentation of the Hungarian capital, the discussion of the Belarus-Hungary cooperation prospects, the financing of export transactions, and other issues. The forum will also host talks between the businessmen of the two countries. Taking part in the talks on Hungary’s behalf will be representatives of the Zahony regional business zone, the Budapest Festival and Tourism Center, banks, the Hungarian Seed Association, the Kern Winery, producers of hybrid seed corn, equipment for the meat industry, brake systems for cars and trucks, woodworking companies and others. Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich told the media that he expects great results from the talks as Minsk and Budapest have a considerable industrial potential. “The two cities have a lot of industrial companies, which opens new opportunities for cooperation in developing innovative products, and also in the development of trading networks,” said the head of the Belarusian Chamber of Commerce and Industry.

Minsk is hosting the Budapest Days in Minsk on 10-12 April. The mayors of Minsk and Budapest held talks on 10 April. The Hungarian delegation also visited the Management Company of the Belkommunmash Holding Company. The Hungarian ensemble of folk music will perform at the Upper Town Concert Hall on 11 April.