Minister of Domestic and Foreign Trade Tomislav Momirovic and Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó co-chaired the 13th session of the Joint Commission for Economic Cooperation of Serbia and Hungary today.
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Trade exchange with Hungary expected to reach €4bn
Belgrade,
10 May 2023
After the plenary session, Momirovic and Szijjártó signed the Protocol of the session, as well as the Memorandum on business cooperation between the Radio Television of Serbia and the Hungarian televisions MTVA and DUNA.
In his address to reporters, Momirovic explained that the session and his bilateral meeting with Szijjártó are in the function of preparations for the upcoming joint session of the governments of the two countries, which should be held next month.
He pointed out that the bilateral foreign trade exchange last year amounted to €3.65 billion and that the goal is for it to reach €4 billion this year, noting that Hungary is our fifth trading partner.
He added that in 2022, there was a significant increase in Serbia's exports to Hungary, which amounted to €1.5 billion.
Our total trade exchange in the first three months of this year amounted to €824 million, with a surplus on our side, the Minister specified.
Szijjártó stated that several decisions and common positions were adopted today, which should contribute to the improvement of the energy situation in both countries, as well as to the improvement of cross-border cooperation.
One of the decisions is to build an oil pipeline from Aldje in Hungary to Novi Sad, which would be built by the Hungarian MOL and the Serbian Transnafta. Also, a new joint venture will be formed that will participate in the modernisation of the electrical grid, and we have reached an agreement to build the Röszke -Horgos border crossing on the highway, which would be in accordance with the most modern European standards, Szijjártó said.
He announced that the corresponding contracts related to these agreements will be signed at a joint session of the governments of the two countries.
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