Chamber comes up with proposal to retain exports to Russia

History

The Hungarian Chamber of Commerce and Industry (MKIK) has drafted a proposal for the government aimed at retaining Hungary's exports to Russia, MKIK head Laszlo Parragh said today, according to Hungarian news agency MTI.

Speaking at a session of MKIK's Hungary-Russia chapter, Parragh said that the package contained "technical solutions" and ways to support market activities.

MKIK's Hungary-Russia chapter is in charge of monitoring the impacts of the Russian embargo on Hungary's ventures.

Parragh said that the Russian embargo not only had a direct negative effect on Hungarian companies but also the impact on German companies could also be felt by Hungarian firms which export to Germany.

MKIK also urged the government to take comprehensive diplomatic steps in aid of the activities of Hungarian small and medium-sized firms on the Russian market. Imre Tóth, head of the chamber's Hungary-Russia chapter, said cooperation between the central organisations of the two countries' chambers was important, noting that the MKIK was strengthening ties with Russian commerce chambers and holding regular meetings. A business delegation from Russia is expected to visit Hungary before the end of the year, he said, adding that the MKIK was organising more and more visits by business delegations to Russia and states which have formal trade arrangements with Russia, including Belarus.

Not only are the sanctions against Russia affecting Hungarian farm trade, but it also has an impact on industry and services, Tóth said. Yet there is still demand on the Russian market for Hungarian farm and food industry technology such as cutting-edge refrigeration units and greenhouse complexes, he noted.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.