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Apr 24, 2017

Hungary and Georgia build economic cooperation

Hungary’s Eximbank has opened a pool of 90 million USD to provide loans aimed at promoting further ties, PM Orbán said

Prime Minister Viktor Orbán has said that the good relations between Hungary and Georgia should be used to promote economic cooperation.

PM Orbán made the remarks following talks with Giorgi Kvirikashvili, Georgia's prime minister, and said that despite “such good political ties” the two countries “cannot boast” of spectacular trade or investment figures. “We need to improve that,” he added. He said the goal was to “give an impetus” to economic and trade ties to “turn potential into reality."

Hungary’s Eximbank has opened a pool of 90 million USD to provide loans aimed at promoting further ties, PM Orbán said, adding that the initial fund could be increased if necessary. He also said that businessmen in the Hungarian delegation were primarily interested in opportunities in the areas of water management, waste water treatment, pharmaceuticals, agriculture, food processing and construction.

PM Orbán also said that the two countries had a similar position concerning cooperation with China, and added that he had extended an invitation to the Georgian government to attend as an observer the central Europe-China summit to be held in Hungary in September.

PM Orbán also met with Georgian President Giorgi Margvelashvili and House Speaker Irakli Kobakhidze, during his trip to Gerogia on Friday.

Meanwhile, Péter Szijjártó, minister of Foreign Affairs and Trade, said that “both the Hungarian and Georgian governments are following a strategy of adapting to the rapidly changing global political and global economic conditions, which greatly facilitates cooperation between the two countries’ enterprises."

The minister also said that agreements concluded during his visit to Georgia will provide a secure legal background for future business cooperation between the two nations.