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Official: Dispute with U.S. could impact business ties

History

Hungarian Foreign Ministry State Secretary László Szabó said today that, unless recent disputes are resolved between the United States and Hungary, business relations would suffer. Szabó added that external economic policy should primarily focus on improving the country's image abroad.

Speaking at a conference today, Szabó said that Hungary's recent bad reputation in other countries such as the United States, Germany and Austria "is not yet reflected in export or investment figures, but if we cannot find a political solution to issues like the US entry ban and corruption charges these will backfire sooner or later".

The secretary said that economic diplomacy was a top priority for his ministry, and added that Hungarian embassies worldwide were meant to promote the country's business interests, adding that the Hungarian government is working to increase the proportion of industry within Hungary's GDP from 26% to 30% by promoting high value-added sectors.

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