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Hungary-Romania bilateral trade drops

The value of bilateral trade between Hungary and Romania has fallen this year, but the decline is well under the fall in Hungary's total foreign trade, National Development and Economy Minister István Varga said after a meeting of the Hungarian-Romanian Mixed Economic Committee on Friday.

Bilateral trade between Hungary and Romania was €1.7 billion in January-May, compared to €5.4 billion for the full year in 2008. Bilateral trade between the two countries jumped 19% in 2008, when Hungary's exports to Romania accounted for 5.3% of the total.

Hungarian-owned companies in Romania or joint ventures with Hungarian and Romanian partners numbered 8,750 in 2008. Direct investments of these companies came to more than €1 billion. (MTI-ECONEWS)