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"I hope that the agreement will give renewed impetus to the development of bilateral economic cooperation," Reiman told reporters. The minister noted that economic relations between the two countries are improving dynamically, thanks in part to a "positive change in direction" to bilateral trade, traditionally dominated by Russian energy exports to Hungary.
Commenting on specific areas of interest for Russian investors in Hungary, Reiman said they are ready to participate in a planned lifetime-extension project at Hungary's Paks Nuclear Power Plant, as well as in the modernization of Budapest's metro lines and the supply of metro carriages to a planned new metro line. Both the Paks plant and the city's metro lines were originally built using Russian technology.
In its current composition, the intergovernmental committee could be a "very effective tool" in helping economic relations, Reiman said. Citing a specific example from his own field, Reiman said the innovation subcommittee, one of several that were created under the supervision of the main committee, will soon prepare a concrete proposal on how to set up a nanotechnology research center in the northern Hungarian city of Miskolc.
Reiman also stressed the importance of increasing technological exports from Hungary to Russia. "There are very important topics of cooperation and many viable common projects that necessitate closer cooperation" in the framework of the intergovernmental committee, according to the minister.
