4. Hungary

Economical and cultural relations between the Hungarian and Chuvash are deeply rooted and are of a great importance for both of the countries.

Throughout many years the Chuvash Republic of the Russian Federation actively collaborates with the Hungarian Republic not only in the farming sector but also in other spheres of foreign trade activities.

The delivery of the accord dated May 20, 2004 signed by the Government of the Chuvash Republic of the Russian Federation and the Hungarian Republic laid the foundations to the active and mutually beneficial cooperation between the countries.

There are the following agreements in force signed by two republics:

• The Protocol on agriculture development signed by the Department of Agriculture and the Board of Agriculture of the Hungarian Republic dated March 29, 2004
• The Memorandum of understanding dated September 30, 2006 signed in Cheboksary between the Cabinet of the Chuvash Republic and OTP BANK Plc of the Hungarian Republic.