18:43 GMT +324 September 2017

    Russia, Hungary to sign cooperation deals

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    MOSCOW, September 18 (RIA Novosti) - Agricultural and food cooperation agreements are likely to be signed following talks between the Russian president and the Hungarian prime minister Monday, a Kremlin source said.

    Russian-Hungarian relations have considerably improved after a liberal coalition came to power in Budapest in 2002, and a landmark visit by Putin to Hungary in February-March 2006.

    "Our commodity turnover increased to a record high of $6 billion last year, and this year it has already grown 40% to $3.6 billion," Putin said during his meeting with Ferenc Gyurcsany. "Hungary's exports to Russia rose 74% in the first half of the year."

    The countries are implementing a number of bilateral projects, particularly in the fuel and energy sector. A gas transportation junction of European significance will be created in Hungary under bilateral projects. Hungary's MOL Group, a leading integrated group of oil and gas companies in Central and Eastern Europe, is participating in West Siberian oil projects.

    Gyurcsany said Russian-Hungarian energy cooperation went beyond bilateral relations, being of European importance.

    Putin said a project to create a railway transportation corridor with junctions in Zahony, on the Hungarian-Ukrainian border, in the Moscow Region and Yekaterinburg in the Urals was being developed.

    A pilot project is being implemented to set up a nanotechnology research and production center in Miskolc, in northern Hungary.

    "The Hungarian side is seeking to participate in priority national projects in Russia, first of all in agriculture, housing and healthcare," the Kremlin source said.

    Meetings between the two countries' leaders are frequent. President Putin's visit to Hungary February 28-March 1 was preceded by five meetings with the Hungarian premier.

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