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7 Jul 2021, 16:38

Hungary, Russia to establish logistics company — official

The company will be registered in Hungary

MOSCOW, July 7. /TASS/. Hungary and Russia signed an agreement on the establishment of a joint shipping and forwarding venture with the participation of China, Secretary of State of Hungary’s Ministry of Innovation and Technology Laszlo Mosoczi told reporters on Wednesday. 

"I am pleased to announce that yesterday, we signed an agreement on the establishment of a joint venture in the forwarding industry with Russian First Deputy Transport Minister Dmitry Zverev in the context of the Memorandum of Understanding and Cooperation in Railway Transport signed between Hungary and Russia in 2019," the official said. "This agreement will be implemented on a commercial basis with the engagement of the Chinese party that will provide the freight," Mosoczi noted.

The company will be registered in Hungary, the official noted. "We expect it [the establishment of the company] to take place as early as this year," he said.