Szijjártó: Europeʼs competitiveness depends on Russia

Int’l Relations

Developing Europeʼs competitiveness is “hard to imagine” without pragmatically restructuring cooperation between the European Union and Russia, a collaboration that should be based on mutual respect and with respect to international laws, Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó said today.

Russiaʼs Foreign Minister Sergey Lavrov and Hungaryʼs minister of foreign affairs and trade arrive at the press conference after their talks. (Photo: MTI/Tamás Kovács)

Following talks with Russia’s Foreign Minister Sergey Lavrov, Szijjártó said that to improve the European economy and its competitiveness, Russia’s natural resources must be paired with Europeʼs high-tech solutions, Hungarian news agency MTI reported.

Szijjártó stressed that it would be mutually beneficial for the two countries to slow the decrease or stoppage of bilateral commercial traffic and work towards its increase. He noted that bilateral trade between the countries dropped by 47% last year, and by 25% this year so far. Lavrov supported Szijjártó’s proposals regarding bilateral trade.

Szijjártó said that in order to improve economic ties with Russia, Hungary aims to increase regional cooperation and provide incentives for investments by Hungarian companies, MTI reported. Szijjártó mentioned four regional agreements and a number of investments in Russia by Hungarian-owned companies, MTI added.

Lavrov said Russia considers the upgrade of Hungary’s sole nuclear plant in Paks a long-term, strategic investment, which contributes to the energy-security of Hungary, as well as the improvement of the country’s economy.

In response to questions at the end of the conference Szijjártó said that “nobody should be worried about” Lavrovʼs visit to Budapest, especially not Hungaryʼs allies, just as Hungary is not concerned when other European countries negotiate with Russia.


Hungary Agricultural Output Value Grows by 6.5% Crops

Hungary Agricultural Output Value Grows by 6.5%

Gov't to Launch HUF 20 bln Workers Hostel Program Government

Gov't to Launch HUF 20 bln Workers Hostel Program

Number of Registered Jobseekers Down 3% in November HR

Number of Registered Jobseekers Down 3% in November

Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair Drinks

Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.