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Hungarian exports to Russia up 33% last year

Hungarian exports to Russia increased by 33 percent to $1.2 billion-$1.3 billion last year, while imports totaled $4.7 billion-$4.8 billion, Economy and Transport Minister János Kóka told the press on Monday, on the eve of Russian President Vladimir Putin’s visit to Hungary.

Hungary considers Russia one of the fastest growing markets, Kóka said, adding that investments of Hungarian companies in Russia totaled Ft 100 billion. Hungarian companies need to utilize business opportunities in sectors that receive political preference in Russia, including home construction, healthcare, education and agriculture, Kóka said.

 

The significance of political ties is greater in Russia than in other markets, so Putin's forthcoming stay needs to be exploited for lobbying by political and business leaders as well, he added. Putin will arrive in Hungary for a two-day visit on Tuesday.