Kazan hosts Tatarstan-Hungarian business forum

During the forum held discussions of Tatarstan's and Hungary’s investment opportunities, areas of cooperation and bilateral meetings of the republic’s business community with Hungarian colleagues.

Tatarstan-Hungarian business forum, which opened today in «Shylyapin Palace Hotel», moderated by Tatarstan Investment Development Agency Chief Executive Linar Yakupov. The presidium also includes First Deputy Minister of Industry and Trade of the Republic of Tatarstan Ruslan Kabirov, the Head of the Trade Representation of the Russian Federation in Hungary György Palashti, Hungarian Investment and Trade Agency Vice - President Peter Bilek.

The forum was attended by Tatarstan Export Corporation First Deputy CEO Ildar Abdrakhmanov, Tatarstan Association of Small and Medium Enterprises President Haidar Khayrullin, Adviser to the Head of Drozhzhan region on economics and investment Lilya Dautova, representatives of Tatarstan companies.

Ruslan Kabirov, welcoming the forum participants, expressed the hope for fruitful cooperation between the countries and identification of joint priority work.

The Hungarian government created the Hungarian Investment and Trade Agency (HITA). HITA’s purpose, on the one hand, to support foreign trade activities of Hungarian small and medium-sized enterprises, on the other hand - the stimulation of foreign companies’ investment in the territory of Hungary. The Agency is the Central Office, which is subordinate to the Prime Minister of Hungary. Office management provided by the State Secretary on Foreign Affairs and Foreign Economic Relations in the person of Peter Siyarto, who leads the delegation of Hungary during a visit to Tatarstan.

HITA, also as Tatarstan Investment Development Agency, is a member of the World Association of Investment Promotion Agencies (WAIPA) in the composition of Eastern Europe structures, where Tatarstan Investment Development Agency is a director.

Linar Yakupov, introducing colleagues from Hungary with the investment potential of the region, noted that Tatarstan is interested in working together with Hungarian colleagues and expressed hope that the investment niches will be defined and areas of cooperation would be beneficial for both sides. Tatarstan Investment Development Agency Chief Executive told about the creation of Tatarstan Export Corporation, noting the export direction as one of the cooperation options with Hungary. At the forum were also presented projects implemented in Tatarstan - Kazan Smart City and Innopolis.

György Palashti noted that the country since 2004 is a part of the EU and is ideal for distribution in Central and Eastern Europe, South-East Europe and CIS countries. Hungary borders with seven countries (20 countries are in a radius of 1,000 km) and is located at the crossroads of major international transport corridors.

«Our country does not have such large resources, such as Germany or Sweden and other EU countries, but we have high intellectual product, a lot of technology and quality products, - added György Palashti. - And all this is supported by export financing opportunities. That is why in the Hungarian delegation included representatives of Eximbank and insuring export credits».

Turnover between Tatarstan and Hungary in 2013 reached $ 1 million (1192.4 million U.S. dollars), exceeding by 78% comparing with previous period. Export of Tatarstan increased by 67%, from Hungary – by 35%. From republic to Hungary supplies petroleum and petroleum products, machinery and equipment. From Hungary - the pharmaceutical industry products, equipment and machinery (eg. «Ikarus» buses). György Palashti shared the hope that the structure of trade will change and expands. He also told about Hungary’s tax preferences, priority development sectors, political conditions and forms of support for investors.

Tatarstan Investment Development Agency Press Service