Hungarian-Serbian Joint Economic Commission meets in Budapest
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The Hungarian-Serbian Joint Economic Commission convened in Budapest on Tuesday.
Hungarian-Serbian Joint Economic Commission
After the meeting, at a press conference with Serbian Minister of Internal and Foreign Trade, Tomislav Momirovic, Minister of Foreign Affairs and Trade PΓ©ter SzijjΓ‘rtΓ³, said cooperation between the two countries had benefitted both in terms of ensuring energy supply.
He noted that gas deliveries to Hungary via Serbia had reached 5.6bn cubic meters this year, while Hungary was storing 160m cubic meters of gas for Serbia.
He welcomed establishing a joint gas trading company that had become a big regional player and said a Hungarian-Serbian-Slovenian electricity bourse would launch by year-end.
SzijjΓ‘rtΓ³ said construction of a 310km crude pipeline from Serbiaβs border to Hungaryβs Danube Refinery would cost around half a billion euros. He added that construction could start next year and finish in three to three-and-a-half years.
He said a decision had been made on the site for an interconnector between the two countriesβ electricity grids, which will be completed by 2028.
He said bilateral trade between Hungary and Serbia stands at around EUR 5bn, adding that headcount at border crossings had been raised to ease trade of goods.
SzijjΓ‘rtΓ³ touched on upgrading the Budapest-Belgrade rail line. SzijjΓ‘rtΓ³ said 150km of track on the southern stretch in Hungary had been laid, and the entire section would be completed by 2026.