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Hungarian-Georgian business forum held in Budapest

A Hungarian-Georgian business forum was held in Budapest on Monday with the participation of Hungary's National Economy Minister György Matolcsy and Georgia's head of state Mikheil Saakasvhili.

Hungary wants to develop its trade ties with Georgia and find new ways to strengthen economic partnerships, Matolcsy said.

Saakasvhili said Georgia is offering incentives for cooperation in business and the country is carrying out reforms and taking effective steps against corruption. Georgians want their country to be the economic and logistics centre for the region, he added.

Georgia's Minister for Economy and Sustainable Development Vera Kobalia said the country's farm sector is in need of experts to boost efficiency. The country's tourism industry expanded 37% in 2010 and grew 41% in Q1 2011, she added.

Bilateral traded between Hungary and Georgia was more than EUR 32 million in 2010, up 19% from the previous year, data from the National Economy Ministry show. Hungarian exports accounted for nearly all of trade between the two countries.