One of the most important tasks ahead of Hungarian foreign policy is to balance trade between Hungary and Russia and work down the 5-billion-dollar difference in favour of Russia, State Secretary for Foreign Affairs and External Economic Relations Péter Szijjártó said on Wednesday.

Speaking at a forum of the Hungarian-Russian chapter of the Chamber of Commerce and Industry (MKIK), State Secretary Szijjártó pointed out that Russia is the third most important partner of Hungary and a priority outside the EU. He emphasised that the success of an opening towards the East greatly depended on close cooperation between the chamber, the Hungarian Investment and Trade Agency (HITA) and the network of trading houses.

On the Hungarian side the greatest potential is in agricultural and food industry products, currently amounting for only 8% of Hungarian export to Russia. The Hungarian official highlighted the importance of having the necessary storage and purchasing capacities, as well as organising transport and distribution of products.

The State Secretary said trading houses would be opened in Moscow, Astana (Kazakhstan), Riyadh (Saudi Arabia) and Beijing this year and these are aimed to help small and medium companies (SMEs).

The Hungarian official also decorated Viktor Zubkov, Board Chairman of Gazprom, with the Order of Merit of Hungary Middle Cross with the Star, for his efforts in developing Hungarian-Russian relations.

(MTI, Prime Minister’s Office)