Vucic: Hungary is Serbia's fourth-largest trade partner

BELGRADE - Hungary is Serbia's fourth-largest trade partner and the two countries have numerous joint projects, including the construction of a Pannonian power transmission corridor, due to be completed by end-2028, Serbian President Aleksandar Vucic said on Monday after meeting with Hungarian President Tamas Sulyok in Belgrade.

He noted that the annual bilateral trade volume with Hungary had risen to 3.1 bln euros in 2023 from 768 mln euros 12 years ago.

He said a Novi Sad-Budapest high-speed rail line would be extremely important for the citizens and expressed the hope that, before its inauguration, an agreement to build a high-speed rail line connecting four countries - Hungary, Serbia, North Macedonia and Greece - would be signed as well.

He said a feasibility study for an oil pipeline between Novi Sad and Algyo, southern Hungary, would be completed by the end of this year.

"As far as gas is concerned, we will continue to be a partner to Hungary when it comes to gas supplies, just like Hungary has been our dependable partner for decades when it comes to gas supplies to Serbia. Hungary can always count on Serbia, just like we have always been able to count on Hungary," Vucic added.

He also noted that Serbia wanted to set up an electricity exchange with Hungary and Slovenia and that work was underway on development of a Pannonian power transmission corridor, due to be completed by end-2028.