On November 15th 2019, Péter Szijjártó, Minister for Foreign Trade and Foreign Affairs of Hungary, on behalf of the invitation of Hungarian Arago Befektetési (Investment) Holding and the Croatian AMS Ltd. visited the Croatian town of Virovitica, where he inaugurated a 3.5 MW biomass power plant created by the Hungarian-Croatian joint venture. Beside the transfer (handover), the Minister negotiated with Mr Darko Horvat, Minister of Economy and held a round table discussion with entrepreneurs involved in the Hungarian Government's Croatian economic development program.
According to the ministers the Biomass Power Plant is a success story of the Hungarian-Croatian economic relations. Hungarian-Croatian foreign trade in goods is growing steadily and spectacularly, reaching over 2.3 billion EUR in 2018. Hungary is Croatia's fifth most important foreign trade partner. Croatia has become the number one destination for Hungarian capital investment. It is in the interest of both countries that similarly successful investments, combining Hungarian-Croatian economic synergies, to be realized in near future in the internal areas of Croatia. Therefore, the Hungarian EXIM Group has assigned a loan fund to finance similar investments in Croatia.
