(ForUm) - The Verkhovna Rada of Ukraine has ratified intergovernmental Ukrainian-Hungarian agreement on economic cooperation.
388 out of 444 people's deputies voted for the correspondent law.
The agreement provides for development of bilateral economic cooperation on the equal and mutually beneficial basis in economic, industrial and technical sphere.
According to the agreement, the parties contribute to establishment of new contacts and expansion of existing one between business circles of their States, contribute to development of small and medium enterprises and stimulate participation in international exhibitions and fairs, reports Trend.
Ratification of the given agreement will allow creating favorable conditions for effective resources usage and stirring up the business circles of two countries through tasks realization, given to common committee on economic cooperation.
Ratification is necessary condition for effectiveness of the agreement on economic cooperation between the Governments of Ukraine and Hungary and it will be the legal basis for stable economic, industrial and technical cooperation, improvement of the standard of living of population of two countries and effective usage of the natural and human resources.