Hungarian-Philippine economic committee holds 1st meeting


The Hungarian-Philippine joint economic committee held its inaugural meeting in Budapest on Wednesday, official government website reported. 

The sides agreed to deepen cooperation in the areas of water management, farming, the food industry, food safety and ICT, said  István Joó, deputy state secretary at the Hungarian Ministry of Foreign Affairs and Trade. Philippine authorities plan in May to visit a number of Hungarian meat companies which have applied for export licenses, he added.

Ceferino Rodolfo, undersecretary of the Philippine Department of Trade and Industry, said the meeting of the joint economic committee would contribute to stronger trade ties. He named fish, pet food and manila hemp among possible export opportunities.

The Hungarian Export Promotion Agency (HEPA) hosted a business forum attended by representatives of almost 50 Hungarian and 10 Philippine companies earlier this week. The participants were informed that Magyar Eximbank has opened a more than USD 600 million credit line to support partnerships between Hungarian and Philippine businesses.

Bilateral trade between Hungary and the Philippines rose 15% to USD 222 million last year. Hungarian exports accounted for USD 65 mln of the total.


Minister Asks Banks to Introduce Voluntary Rate Caps Banking

Minister Asks Banks to Introduce Voluntary Rate Caps

Gov't Raises 2023 Deficit Target to 5.2% of GDP Government

Gov't Raises 2023 Deficit Target to 5.2% of GDP

Norbert Schőmer Appointed Atenor Hungary Country Director Appointments

Norbert Schőmer Appointed Atenor Hungary Country Director

Celebrating Music Music

Celebrating Music


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.