Agreement paves way for expansion of MOL activities in Bosnia-Hercegovina

Int’l Relations

An agreement reached by state secretary for foreign affairs and external economic relations Péter Szijjártó in Sarajevo on Friday paves the way for the expansion of Hungarian oil and gas company MOL's activities in Bosnia-Hercegovina. Under the agreement, the government of Bosnia-Hercegovina will create the opportunity for MOL to continue talks on expanding its local activities, Szijjártó told MTI on the phone after a two-day meeting of Hungary's and Bosnia-Hercegovina's joint economic committee. MOL, which holds two-thirds of Bosnian peer Energopetrol in consortium with its Croatian unit INA, wants to broaden its activities in the areas of storage and production, he added. Szijjártó reached an agreement during his visit on re-establishing a direct passenger rail link between Budapest and Sarajevo. Direct service between the cities was halted last December. The state secretary also agreed make a new accord on avoidance of double taxation between the two countries.

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