Serbia, Hungary hope to increase trade

Serbia and Hungary hope to see their trade grow to reach USD 2bn, says the Serbian minister for trade and services.

Izvor: Tanjug

Friday, 26.11.2010.

16:26

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Serbia and Hungary hope to see their trade grow to reach USD 2bn, says the Serbian minister for trade and services. Slobodan Milosavljevic spoke at the Friday meeting of the Serbian-Hungarian economic council at the Serbian Chamber of Commerce (PKS). Serbia, Hungary hope to increase trade The minister called on Hungarian companies to invest in Serbia and make use of the free trade agreements which Serbia has adopted in the domain of joint export of goods to third markets. Milosavljevic noted that 500 joint companies have been constituted so far and that Hungarian investments in Serbia total EUR 400mn. He pointed out that Serbia needs economic, financial and technological partners, primarily in the domain of wood processing, mechanical engineering, energy and transport. Hungarian Minister of Economy Gyorgy Matolcsy expressed expectation that the Hungarian government will initiate EUR 100mn worth of loans with the European Bank for Reconstruction and Development, which will be aimed at implementing joint projects with Serbia. The loans would be used in the domains of agriculture and transport, and especially in the construction of the Istanbul-Belgrade-Vienna-Budapest railroad along which trains would travel at 200 kilometers per hour. Matolcsy said that a part of the funds would also be allocated to the energy sector, and pointed out that Serbia should not leave the preparation of energy development strategy to foreign experts because Hungary has had negative experiences in this matter. (Beta)

Serbia, Hungary hope to increase trade

The minister called on Hungarian companies to invest in Serbia and make use of the free trade agreements which Serbia has adopted in the domain of joint export of goods to third markets.

Milosavljević noted that 500 joint companies have been constituted so far and that Hungarian investments in Serbia total EUR 400mn.

He pointed out that Serbia needs economic, financial and technological partners, primarily in the domain of wood processing, mechanical engineering, energy and transport.

Hungarian Minister of Economy Gyorgy Matolcsy expressed expectation that the Hungarian government will initiate EUR 100mn worth of loans with the European Bank for Reconstruction and Development, which will be aimed at implementing joint projects with Serbia.

The loans would be used in the domains of agriculture and transport, and especially in the construction of the Istanbul-Belgrade-Vienna-Budapest railroad along which trains would travel at 200 kilometers per hour.

Matolcsy said that a part of the funds would also be allocated to the energy sector, and pointed out that Serbia should not leave the preparation of energy development strategy to foreign experts because Hungary has had negative experiences in this matter.

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