The Government of the Republic of Hungary and the Government of the Russian Federation (hereinafter referred to as the "Contracting Parties"),

Desiring to intensify economic cooperation to the mutual benefit,

Intending to create and maintain favourable conditions for investments of investors of one Contracting Party in the territory of the other Contracting Party,

Conscious that the promotion and reciprocal protection of investments, according to this Agreement, stimulate the business initiatives in this field,

Have agreed as follows: