Ukraine, Hungary increasing turnover
2011-12-02 11:05:40
Trade relations between Ukraine and Hungary have been actively developing since the establishment of diplomatic relations. This year the trade turnover between the two states will be nearly $4 billion, Ambassador Extraordinary and Plenipotentiary of the Republic of Hungary to Ukraine Mihaly Bayer said during a conference in Kyiv Thursday, timed to the 20th anniversary of the start of diplomatic relations between Ukraine and the Republic of Hungary.
"Positive dynamics of trade in bilateral relations is developing. The trade turnover between Hungary and Ukraine in 1992 was USD 354 million, in 2003 more than USD 1 billion and in 2006 USD 2 billion. Even the global financial crisis did not prevent our trade relations. In 2011, we are approaching a turnover of USD 4 billion," he said.
According to Bayer, the close economic and trade relations between the two countries are also confirmed by almost a thousand Ukrainian-Hungarian joint ventures, which are registered in Ukraine. In addition, as the diplomat said, Hungary is one of the largest foreign investors in Ukraine among EU member states.
"The Hungarian investment in Ukraine today is about USD 570 million," the ambassador said.
Hungary recognized Ukraine's independence December 3, 1991, and established diplomatic relations with it.