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Ukrainian Deputy Minister of Agrarian Policy and Food Olha Trofimtseva says that Ukraine plans to intensify trade and economic cooperation with Hungary and increase farm produce exports to that country, according to the ministry's press service.
"Our countries have a great economic potential that needs to be realized. It is not just a matter of increasing agricultural trade, but of creating interesting projects as well," the press service quoted Trofimtseva as saying.
Ukraine's farm produce exports to Hungary in the first quarter of 2017 were estimated at US$15 million, which was 88% up year-over-year. Trade between the countries over the period under review amounted to $49.2 million. Such Ukrainian products as sunflower cake, soybeans, seeds, honey, sunflower oil, nuts, and chocolate were in great demand among Hungarian consumers. At the same time, Ukraine actively purchased Hungarian maize, animal feed, live poultry, vegetables, sunflower seeds, etc., the press service said.
Read alsoUkraine's Energoatom to launch power exports to Poland, Hungary in 2019As UNIAN reported earlier, exports of Ukrainian agrarian products rose by 4.5% in 2016 from 2015, to $15.5 billion, accounting for 42.5% of Ukraine's total exports, the Agrarian Policy and Food Ministry said. Grain crops, vegetable oil, oilseeds, soybeans, sugar, and meat were traditionally export-oriented staples. Among key markets were the Asian countries (45.9% of exports, worth $7 billion), the European Union (27.5% of exports, $4.2 billion), Africa (15.7% of exports, $2.4 billion), the CIS countries (7.7% of exports, $1.2 billion), and the United States (0.9% of exports, $45 million).