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Business group plans to launch JV for export of Hungarian wine and food to Russia

The Vállalkozók Klubja Egyesület business association intends to establish a Hungarian-Russian joint venture in May aimed at marketing high-quality Hungarian food and wine in Russia, association president Sándor Újhelyi told MTI on Wednesday.

The JV, to be set up by Hungarian and Russian financial and trade investors, will have registered capital of HUF 150 million.

The association noted that Russia was the fifth-largest importer of Hungarian wine in the middle of the 1990s, though has since dropped out of the top ten.