Hungarians keen to sign aviation agreement with the US and attract US investors

Published: 6/24/1999

Mr Sandor Gyurkovics, State Secretary of the Ministry of Transport, Telecommunication and Water Management, has said that Hungary is keen to sign an aviation agreement with the US, as such an agreement would have a positive influence on bilateral economic relations. During talks on June 16th 1999 in Budapest, with Mr Patrick Mulloy, US Assistant State Secretary at the Department of Commerce, Mr Gyurkovics claimed that Hungarian infrastructure developments provide favourable investment opportunities for US investors. He added that Hungary's new aviation strategy, which will also serve as the basis for strengthening Malev and set long-term development plans, would be completed soon. Mr Gyurkovics also commented that, where European Union (EU) accession is concerned, Hungary is expected to request derogation on aviation development. According to the press release issued by the Hungarian Ministry, Mr Mulloy was highly interested in potential civil aircraft purchases by Hungary, Hungarian regulations for leasing aircraft and aircraft parts, and in the position of, and prospects for, Boeing on the Hungarian market. He suggested that Hungary should implement the EU's financial practices, relating to aircraft purchases. Mr Gyurkovics said that the purchase of Boeing aircraft seems favourable to Hungary from a regulatory point of view. He added that Hungary's aircraft fleet needs modernising, in accordance with the process of EU integration, and that Boeing is considered as a potential supplier.

Article ID: 620