There is a need for more Hungarian export to Serbia and tighter cross-border economic cooperation, particularly between small and medium-sized enterprises (SMEs), Minister of Foreign Affairs and Trade Péter Szijjártó said at the Hungarian-Serbian business forum on Wednesday in Budapest.
The Government encourages Hungarian companies to participate in the modernization of the Serbian economy, the Minister emphasised at the event of the Hungarian National Trading House.
According to Mr. Szijjártó, bilateral cooperation between Hungary and Serbia has never been as balanced and effective as it is now and this is also reflected in economic figures.
The Minister explained that trade between the two countries exceeded EUR 1.7 billion last year, mainly because "we recorded the highest ever Hungarian export in the direction of Serbia". This also reinforces the decision of the Hungarian National Trading House to open a trading house in Belgrade, the Minister added.
He emphasized that bilateral trade between the countries grew by another 2.5 percent in the first quarter of this year and Hungary became the fifth largest investor in Serbia.
The Minister also mentioned that Eximbank opened a EUR 45 million credit line as the financial background of cooperation between Hungarian and Serbian enterprises, and it also started preparations for a representative office in Belgrade. Hungary will start to build the Central European trade development network with new offices soon opening in Novi Sad and Subotica, he said.
As agreed by the two Prime Ministers, the old border crossing point between Röszke and Horgos will resume service in late July, and two new border crossing points will open in 2016 and 2017 respectively.
Through MOL Group and OTP the Hungarian “flagships” are already present in Serbia, playing an active role in the Serbian market. "We are waiting for the Serbian flagship and the Hungarian boats to follow the Hungarian flagships”, the Minister said.
Mr. Szijjártó invited companies to use the opportunities provided, as the Hungarian and Serbian Governments already have established the necessary background institutions.