Hungarian, Czech foreign ministers anticipate favorable cooperation

Int’l Relations

Trade conditions between Hungary and Czech Republic have improved considerably of late and are expected to develop further, according to Foreign Minister Péter Szijjártó who spoke to the press yesterday following a meeting with his Czech counterpart Lubomir Zaoralek in Prague, according to Hungarian news agency MTI.

Szijjártó said that participants in the Hungarian and Czech economies have faith in each other, as is evidenced by a 10% increase in bilateral trade last year and a further 6% increase January-February of this year. There are currently three Hungarian companies that are dominant in the Czech economy: Hungarian oil and gas company MOL, pharmaceuticals company Richter and Danubius Hotels. To foster additional cooperation among small and medium-sized enterprises, the two countries will provide a €360 mln line of credit through Hungaryʼs Eximbank, Szijjártó added.

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