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Bucharest
September 18, 2019
COMPANIES ECONOMY

Romania , Hungary set joint strategies for freight transport to reduce carbon footprint

Romania and Hungary have established joint strategies for the development of freight transport mainly on water and by rail with a view to reduce the carbon footprint, Vlad Vasiliu, Secretary of State with the Ministry of Economy, Commerce and Relations with the Business Environment stated at the closing of the 7th session of the Romania-Hungary Mixed Inter-Governmental Commission.

“The inter-governmental commission plays a very important role in the bilateral relations between the two parties overall, a role we aim to stabilise and provide with new meanings. The dialogue was constructive, it will bring new developments to the status of bilateral relations. Developing relations between the business environment in the two countries will be marked by the opening of a Romanian-Hungarian chamber of commerce in Budapest. In the transports sector we have a common plan for developing several joint strategies. I appreciated the Hungarian party’s consent for a development plan for freight transport mainly on water and by rail in view of reducing the carbon footprint. We will also develop join projects in the energy sector, in the spirit of energy security for both countries,” Vasiliu stated.

Proceedings of the 7th session of the Romania-Hungary Mixed Inter-governmental Commission for economic cooperation ended with the signing of an agreement that established the principles and future action plans.

The agreement was signed by the co-chairs of the Mixed Commission Vlad Vasiliu, and Levente Magyar, Secretary of State for Economic Diplomacy with the Hungarian Ministry of Foreign Affairs and Commerce.

The works of the commission were preceded by a meeting of specialists in both countries, which assessed the level of cooperation and agreed on new projects in fields of common interest, such as the industry, SMEs, chambers of commerce, foreign investments, transports and transport infrastructure, agriculture, environmental protection, health, energy, IT, scientific and technical cooperation, tourism, inter-regional cooperation, banking and ensuring exports and intellectual property.

Hungary is Romania’s third trade partner, with bilateral exchanges reaching 8 billion euros in 2015 (approximately 3 billion euros in exports and 5 billion euros in imports). There are 13,000 businesses with Hungarian capital registered in Romania, totalling approximately 840 million euros, and in Hungary there are 7,300 companies with Romanian capital, amounting to 160 million euros.

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