OREANDA-NEWS. March 11, 2009. Prime Minister Vladimir Putin addressed a plenary meeting of intergovernmental Russian-Hungarian consultations.

I would like to welcome the participants in the second round of the Russian-Hungarian intergovernmental consultations and to thank Mr Prime Minister for coming to Moscow and for bringing along such a representative delegation.

Back in 2006, Mr Ferenc Gyurcsany and I agreed to set up this fundamentally new mechanism. That decision definitely reflected a special, priority nature of relations between our countries.

We tested the format in Budapest in December 2007, holding a joint meeting of the Governments of Russia and Hungary.

As a result, we now have an opportunity to discuss acute issues from all spheres on the bilateral agenda, and to take prompt decisions whenever necessary. This has facilitated, and will continue to facilitate, a more dynamic Russian-Hungarian partnership at a higher level.

It should be remembered that this new format is not a replica of the intergovernmental commission on economic cooperation, which has its own objectives and is working to attain them quite successfully.

Today we will consider progress in the implementation of the Joint Action Plan for 2008-2009. I think it would be advisable to reiterate its principles in a similar document designed for 2010-2011.

We should focus our attention on enhancing cooperation in the field of innovation, high technologies, infrastructure development, and scientific and cultural exchanges.

The period since the first round of the consultations has been a difficult one for our countries and the global economy. All of us are facing serious financial problems due to an unbalanced stage of the global economy.

To overcome the negative consequences of the global financial and economic crisis, we should take effective joint actions to rehabilitate the global financial and investment system. Likewise, we must maintain and, if possible, enhance the level of trade and economic relations and cooperation in other spheres of bilateral relations. To attain this objective, we should act with maximum trust based on a positive approach to the partners' interests.

I am convinced that if we follow these guidelines, Russia and Hungary will make a befitting contribution to European economic stability.

This brings me to the events of the early 2009. We have just held a closed meeting to discuss energy issues. I believe that today we will make a major step toward implementing our agreements. In particular, the basic cooperation agreement between Gazprom and the Hungarian Development Bank is ready for signing.

It stipulates the establishment of a joint venture to build the Hungarian branch and infrastructure of the South Stream natural gas pipeline. We have also drafted a separate document on building a major underground gas storage facility in Hungary, with Hungarian company MOL acting as Gazprom's partner in the project.

As for the prospects of bilateral cooperation, I would like to say that they are not limited to energy or trade and economic relations. It is important to enhance our scientific, cultural and educational ties, and we intend to highlight these fields.

Colleagues,

We have worked hard to prepare for this round of intergovernmental Russian-Hungarian consultations. They showed convincingly that our Hungarian partners and we are moving toward each other. We are resolved to continue to enhance and expand this mutually beneficial partnership.