Alexander Novak had a meeting with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto on the sidelines of the St Petersburg International Economic Forum.
Alexander Novak held a meeting with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto
Alexander Novak held a meeting with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto
Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto
Alexander Novak held a meeting with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto
Alexander Novak held a meeting with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto
Alexander Novak held a meeting with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto
Deputy
Prime Minister Alexander Novak held a meeting with Minister of Foreign Affairs
and Trade of Hungary Peter Szijjarto on the sidelines of the St Petersburg
International Economic Forum.
The agenda included developing bilateral trade and economic relations, including cooperation in the energy sector, as well as working together in the nuclear industry.
Trade between Russian and Hungary has recovered its growth trajectory as the two countries continued to promote their bilateral cooperation by working on their agreements in strategic sectors including healthcare and pharmaceuticals, sports, culture and higher education, agriculture and energy.
In 2024, bilateral trade in services increased by a factor of 3.4, and there has been a steady rise in investment cooperation too with Hungarian investment in Russia increasing by30 percent in 2024.
Hungary became Russia’s 13th biggest trade and economic partner in the first quarter of 2025 and ranked second among EU countries in this category. Bilateral trade increased by 18 percent over this period.
“Energy cooperation between Russia and Hungary exemplifies mutual trust, professionalism and our shared ability to come up with solutions in the most challenging situations. Russia and Hungary have been committed to promoting their cooperation by relying on a pragmatic approach and respecting each other’s national interests. This is what enabled us to forge resilient ties and work together despite all the challenges we face on the international political stage,” Alexander Novak said.
Deputy Prime Minister of Russia went on to invite Peter Szijjarto and the Hungarian delegation to take part in the Russian Energy Week, an annual international forum which is scheduled to take place on October 15–17 in Moscow.
