Hungarian construction companies will be able to participate in building of infrastructure objects for the World Cup 2018 in Russia.
This agreement was reached at the meeting between the Russian President, Vladimir Putin, and the Prime Minister of Hungary, Viktor Orban, which took place on February 17th.
The two leaders also identified the further steps necessary in order to preserve and reinforce trade and economic relations during the EU sanctions of Russia, the volatility of the currency markets and the general instability of the global economy.
To remind you, bilateral commodity turnover as of the end of 2015 was down by 40%, to $4.7 bln. The volume of cumulative Russian investments in Hungary’s economy at present amounts to $1.5 bln, and vice versa to $2 bln.
Among the major Hungarian investors operating in Russia are OTP bank, “Gedeon Rikhter” pharmaceutical company and the MOL Oil and Gas Group.