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SZIJJÁRTÓ HOLDS TALKS WITH TATARSTAN PM

 

Ahead of a meeting to discuss trade relations between Hungary and the Republic of Tatarstan with the Russian region’s prime minister in Kazan, Foreign Minister Péter Szijjártó said in a Facebook video after his arrival in Kazan that bilateral trade turnover came to 300 million US dollars last year, adding that the bilateral trade volume is already up 70% this year. The Republic of Tatarstan is Hungary’s second most important trading partner within Russia and one of the main investment destinations of Hungarian oil and gas company MOL. Demand in Tatarstan is also high for Hungarian pharmaceutical products, the minister said, adding that Hungary’s livestock exports to the region have doubled in the recent period. Szijjártó noted that MOL and its local partner Tatneft recently began construction of a rubber bitumen plant. The government is supporting the 4 billion forint (EUR 11.1m) project with a 2 billion forint grant, he said. MOL has also begun stepping up its activities in the chemical industry with a view to strengthening its international position in the new era of the global economy, Szijjártó said, adding that Tatarstan was a crucial market for the company. MOL and Tatneft are working on multiple joint projects involving high value-added and high technological chemical solutions aimed at speeding up and boosting the efficiency of oil extraction, he added.