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An agreement has been reached which will soon allow preparatory investments to begin so that Hungarian companies can use the Hungarian-owned part of the harbor of Trieste, Italy for their export activities from 2026, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Rome on Wednesday.
The Hungarian Minister held talks with Italian Deputy Prime Minister Matteo Salvini on Wednesday, after which he said that the Hungarian government’s aim with the area acquired in the harbor of Trieste is to ensure that Hungarian companies have quicker and smoother access to the sea.
An agreement worth €45 million has been reached, so preparatory investments could soon begin in the Italian port.
He said that a development concept had been presented, which would lead to the creation of a harbor capable of handling 2.5 million tons of goods a year, both by road and rail.
According to Szijjártó,
with the joint development program, Hungary and Italy aim to make Trieste one of the most important harbors in Central Europe.
Italy and Hungary officially finalized the deal that had granted Hungary concession rights over a 300m-long expansion of seafront in Trieste back in 2019. In total, the Hungarian state paid 31 million euros to Italy for 60 years of concession rights of the area.
On Wednesday, the Hungarian Foreign Minister also met Italian Industry Minister Adolfo Urso, with whom they discussed economic relations. As Szijjártó said, Italy is one of the world’s most developed economies, so cooperation could help Hungary avoid recession.
The minister added that Italian companies are the ninth largest investor community in Hungary. Italy is the fourth largest foreign trade partner, with whom bilateral trade reached a record high of €12 billion last year and is expected to grow by 20-25 percent this year.
At the meeting, Szijjártó spoke about illegal immigration, which is also affecting Italy. He said it is important that voices against illegal migration, such as the Italian and Hungarian ones, are united and as loud as possible. This is the way to force Brussels to stop supporting migration, he emphasized.
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