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Romanian-Hungarian business leaders, gov't officials meet in Budapest

Participants at a conference organized by the Hungarian Business Forum of Romania in Budapest on Friday stressed the importance of strengthening economic ties between the two countries.

Romanian ambassador to Hungary Alexandru Victor Micula told the conference that Romania's biggest trade deficit is with Hungary, adding that further development is necessary to improve the situation.

Romania is Hungary's second-biggest export market and Hungary is Romania's third-biggest trade partner in terms of imports.

Fresh data from the Central Statistics Office (KSH) show Hungarian exports to Romania rose 21% to HUF 1,281 billion last year. Hungary's imports from Romania climbed 38% to HUF 653.5 billion.