Economy

Hungary and Romania depend on each other

Hungary and Romania must work together if they want improve their competitiveness and be the leaders of development in the region, government commissioner János Lázár said in Debrecen, eastern Hungary where the industry and commerce chambers of four counties from each country signed a partnership agreement.

“The most important task for the next ten years will be to improve competitiveness so that both Hungary and Romania can reach the average level of the European Union” Lázár said.

The industry and trade representations of the four counties each are Szabolcs-Szatmár-Bereg, Hajdú-Bihar, Békés and Csongrád in eastern Hungary and Szatmár/Satu Mare, Bihar/Bihor, Arad and Temes/Timis in western Romania.

One of the biggest regional ventures is the development of an 500 km high-speed rail line that will link the region’s centres from north to south, Debrecen in Hungary to Temesvár/Timisoara in Romania.

Lázár said the Hungarian government has already commissioned the feasibility study for the project, with maximum speeds of 160 km/h.

Lászlá Parragh, head of the Hungarian Chamber of Industry and Commerce said that Romania is Hungary’s second most important economic partner, with major Hungarian companies – such as oil and gas group MOL, OTP Bank and pharmaceuticals firm Richter – having significant investments there.

The two countries’ adjacent regions also cooperate in various field such as agriculture, food processing, waste management, tourism and construction materials.

Title image: Hungarian railroad (source: nif.hu)