Hungarian Foreign Minister Peter Szijjarto will be attending the St. Petersburg International Economic Forum (SPIEF) in Russia from June 5th to 8th, according to the event’s website. This marks the first time a Hungarian minister has participated in the forum, which has been held annually since 1997.
The SPIEF is a major international economic forum that brings together political and business leaders from around the world to discuss global economic issues and promote cooperation. This year’s forum will focus on the theme of «Creating a Sustainable Development Agenda» and will feature discussions on topics such as digitalization, energy, and international trade.
Minister Szijjarto’s participation in the SPIEF is significant as it demonstrates Hungary’s commitment to strengthening ties with Russia and promoting economic cooperation between the two countries. Despite tensions between Russia and the European Union, Hungary has maintained a close relationship with its eastern neighbor, with trade between the two countries reaching a record high of 8.5 billion euros in 2018.
In his speech at the forum, Minister Szijjarto is expected to highlight the importance of economic cooperation between Hungary and Russia and the potential for further growth in trade and investment. He will also emphasize the need for a more balanced and pragmatic approach to international relations, calling for an end to the politicization of economic cooperation.
Hungary and Russia have a long history of economic cooperation, with Russia being one of Hungary’s top trading partners. The two countries have also collaborated on major energy projects, such as the construction of the Paks II nuclear power plant in Hungary, which is being financed by a Russian loan.
The Hungarian government has been actively promoting the country as an attractive investment destination, with its low taxes, skilled workforce, and strategic location in the heart of Europe. Minister Szijjarto’s participation in the SPIEF is expected to further strengthen Hungary’s image as a reliable and open partner for international investors.
Some critics have raised concerns about Hungary’s close relationship with Russia, citing Russia’s actions in Ukraine and its alleged interference in other countries’ elections. However, Minister Szijjarto has dismissed these concerns, stating that Hungary’s cooperation with Russia is based on mutual economic interests and does not interfere with its commitment to the European Union and NATO.
In addition to attending the SPIEF, Minister Szijjarto will also hold bilateral meetings with his Russian counterparts to discuss further cooperation in areas such as energy, agriculture, and tourism. He will also participate in a roundtable discussion on the role of small and medium-sized enterprises in promoting economic growth.
The Hungarian government’s decision to send Minister Szijjarto to the SPIEF is a clear indication of its commitment to strengthening ties with Russia and promoting economic cooperation. As the forum brings together leaders from around the world, it provides an excellent opportunity for Hungary to showcase its economic potential and attract new investments.
In conclusion, Minister Szijjarto’s participation in the SPIEF is a positive step towards enhancing economic cooperation between Hungary and Russia. It demonstrates Hungary’s commitment to promoting a more pragmatic and balanced approach to international relations and highlights the potential for further growth in trade and investment between the two countries. As Hungary continues to strengthen its position as an attractive investment destination, its participation in international forums like the SPIEF will play a crucial role in promoting its economic interests and strengthening its global partnerships.
