Category Business
Source RosBusinessConsulting

MOSCOW — Today, Russian Prime Minister Mikhail Fradkov will pay a one-day working visit to Hungary to meet with his Hungarian counterpart Ferenc Gyurcsany and President Laszlo Solyom, RBC has been told by the government's press service. During the visit, the parties propose to sign an agreement between the Russian and Hungarian healthcare ministries aimed at cooperation in healthcare and medical science is concerned, as well as an intergovernmental agreement on the setting up of Hungary's trade mission in Yekaterinburg.

According to the source, the trade volume between the countries is expected to have hit USD5bn by the end of 2005 (USD4.3bn in 2004). Furthermore, Hungary is increasing its exports to Russia. However, the political situation in Hungary has become rather tense, as the parliamentary elections are coming in 2006. It cannot be ruled out that the center-right opposition may win the election, and this could result in adverse changes in bilateral relations.

During his visit, Fradkov is also expected to discuss the issue of the cancelled bid for Malev, where the Russian KrasAir was the obvious leader, alongside other investment projects in Hungary. In addition, the parties will also address cooperation in the fuel and energy, and transportation spheres, and regional cooperation. Russian oil exports to Hungary are forecast for 2005 at 6.4m tons.