In order to improve Hungary’s export capability and performance, the state needs to play an increased role in several areas, including strong economic diplomacy to promote the geographical diversification of exports, a document on the country’s foreign economic strategy published by National Economy Ministry on Wednesday, and up for professional debate, said.
The draft strategy, published on the ministry’s website, identifies three directions for the geographical diversification of foreign trade relations: a vigorous opening towards the east, establishment of strong connections major European exporters and economic cooperation with Hungary’s neighbors in the Carpathian Basin.
The foreign economic strategy aims to contribute to the achievement of the government’s growth, balance and employment objectives in the period between 2011-2015 by setting priorities and fine-tuning the tools of foreign trade, the ministry’s document said.
The document points out that the share of Hungary’s SME sector in total direct exports remains below the EU average. According to an EU survey published in 2010, 25% of SMEs in the EU-27 group exported at least once in the previous three years compared to the Hungarian average of 18 in the same period.
The document notes, however, that the share of SME exports by Hungarian-majority owned companies reaches 45%.
The document lists the encouragement of foreign direct investment among the key tasks. In this area, priority must be given to the industries favored by the New Szechenyi Plan – health care, the food industry, the pharmaceutical sector, biotechnology, the vehicle industry, sectors based on renewable energy, development of the green economy and tourism services related to the national cultural heritage, logistics, regional service centers and R+D investments.
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