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Hungary signs deal on Trieste Port

Int’l Relations

Photo by EQRoy/Shutterstock.com

Hungary has signed an agreement regarding the establishment of a port and logistics base in Trieste, northeast Italy, aiming to facilitate the access of Hungarian companies to export markets, according to media reports.

The historic Torre del Lloyd, headquarters of the Port Authority of the Adriatic in the Free Port of Trieste in Friuli-Venezia Giulia in Italy (photo: EQRoy/Shutterstock.com).

As reported in June, Minister of Foreign Affairs and Trade Péter Szijjártó floated the idea of using Trieste as a starting point for overseas trade at the V4+ Logistics Forum last month.

"Hungary will create a port and a logistics base in Trieste, to allow Hungarian businesses exporting overseas to conduct shipping quickly and without hindrance," he said at the time.

The recently inked agreement involves the purchase of a 32-hectare plot with seafront access for EUR 31 million within the framework of a 60-year concession agreement, the foreign minister said at a press conference with Italian Minister of the Interior Matteo Salvini.

The value of investments planned at the site will be around EUR 100 mln, Szijjártó said. Traffic passing through the port is expected to reach about 2 million tonnes a year, meaning about 78,000 containers.

Salvini noted that he had also discussed cooperation in the areas of energy, farming and food production with Szijjártó. The two sides also discussed partnering on big infrastructure projects, he added.

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