On April 16, Ukrainian-Hungarian Business Forum was held online under the auspices of the ministers of foreign affairs of Ukraine and Hungary. It was organized by the Council of Exporters and Investors under the MFA of Ukraine, Hungarian Export Promotion Agency, Export Promotion Office of Ukraine as well as Embassy of Ukraine in Hungary under support of Enterprise Europe Network.

More than 100 representatives of business circles of the two countries, in particular in the areas of machine building, metal finishing, consumer goods and food manufacturing, agriculture, took part in the forum.

In his welcoming speech Deputy Foreign Minister of Ukraine (CDTO) Dmytro Senik stressed out that economic cooperation is one of Ukraine’s top foreign policy priorities as identified by the President of Ukraine Volodymyr Zelenskyy. Minister of Foreign Affairs of Ukraine Dmytro Kuleba and Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó play an important role in the implementation of bilateral economic and trade relations. Due to their efforts, the activities of the bilateral Commission on Economic Cooperation were relaunched in 2020.

Dmytro Senik emphasized that the reforms which are carried out in Ukraine nowadays create the necessary conditions for strengthening ties between the entrepreneurs of Ukraine and Hungary, inter-regional cooperation and as well as the investment field.

The Deputy Foreign Minister also noted that the Exporters and Investors Council of the Ministry of Foreign Affairs of Ukraine plays an important role in deepening of the economic cooperation between the two countries.

State Secretary of the Ministry of Foreign Affairs and Trade of Hungary Magyar Levente confirmed the support for the sovereignty and territorial integrity of Ukraine by his country. He also assured of the readiness of the Hungarian government to develop political and economic dialogue between the two countries in the atmosphere of friendship and mutual respect.

The Hungarian diplomat noted that the business circles of Ukraine and Hungary have great opportunities for cooperation and called upon Hungarian entrepreneurs to work proactively with the partners in all Ukrainian regions.

The cooperation between Ukraine and Hungary is especially active in such areas as agriculture, information and communications technologies, machinery, food and light industry sectors. The promising areas are also recycling, postal and delivery services, logistics, healthcare, tourism, and recreation.

The regarded business forum was a good chance for finding new and strengthening the existing contacts between entrepreneurs of the two countries as well as for launching the new joint projects.

During the event, the deputy foreign ministers of Ukraine and Hungary Dmytro Senik and Magyar Levente signed the Memorandum of understanding between the Council of Exporters and Investors and the Hungarian Export Promotion Agency, which is aimed at boosting economic interaction between the enterprises of Ukraine and Hungary. The Memorandum of understanding was also signed between the Export Promotion Office of Ukraine and the Hungarian Export Promotion Agency.

For the reference: Hungary ranks 9th among Ukraine's trade and economic partners. The trade turnover between the two countries in 2020 amounted to USD 2.478 billion (↓ 11.6%). Exports amounted to USD 1.263 billion, imports - USD 1.214 billion (positive balance - USD 49.4 million).

Photo credit: MFA of Ukraine, MFA of Hungary