Hungarian Foreign Minister Peter Szijjárto, during his visit to Belgrade in May, underlined in an interview that Hungary and Serbia will set up ten working groups in various fields, which will help in further deepening cooperation between the two countries, Ednews reports citing Magyar Nemzet.
As part of the cooperation, a new 128-km oil pipeline will be built between Hungary's Algyo and Serbia's Novi Sad. In addition, Hungarian Electrical Works (MVM) and Serbia's gas provider will establish a joint regional natural gas trading company, with Hungarian companies also participating in the modernization of Serbia's energy network. In preparation for this year's heating season, Serbia will be able to store hundreds of millions of cubic meters of natural gas in Hungarian storage facilities, but the doubling of the capacity of the inter-connector linking the electricity grids is also on track.
The cooperation was also praised by Serbian Minister of Internal and Foreign Trade Tomislav Momirovic, following talks with his Hungarian counterpart: "I'd like to remind all Serbian citizens that we have built the best quality and fastest railway of Eastern Europe. We are building plenty of motorways and have taken some incredible steps in the field of energy. Hungary was Serbia's fifth largest trading partner in 2022, with a turnover in goods worth 3.65 billion".