Hungary, Romania Ready To Boost Bilateral Trade – Econ Forum

Budapest, July 14 (MTI) – Hungary and Romania are strategic partners and look to boost two-way trade, state secretary for foreign trade and investment, Peter Szijjarto, said at a forum on Monday.

Romania is Hungary’s second biggest export market after Germany with 6 percent of exports targeting the country, he told the Hungarian-Romanian business forum organised by the Hungarian Chamber of Commerce and Industry.

Trade between Hungary and Romania amounted to 6.7 billion euros last year, which included fuels, medicine, food industry products and machinery, the state secretary added.

Constantin Nita, the Romanian economy minister, said bilateral trade between their countries could be raised to about 10 billion euros per annum. Hungary is the third most important partner for Romania, he said.

Szijjarto noted that trade turnover went up by 7 percent in the first quarter this year. Hungarian exports rose by 2 percent and imports by 21 percent and Hungary’s trade surplus is still significant, he said.