Szijjártó seals deals on expansions by U.S. companies

Pharmaárton Kovács

New agreements have been reached with American companies on capacity expansions in Hungary, Minister of Foreign Affairs and Trade Peter Szijjártó said in New York yesterday, Hungarian news agency MTI reported.

Szijjártó said the investments would be in the automotive industry supply segment, in financial services and in the IT sector, without naming any companies.

Szijjártó arrived in Dallas late Sunday, at the start of an official visit to the United States, and he travelled to New York yesterday. He participated at the inaugural meeting of the American-Hungarian Business Council in New York yesterday.

Szijjártó said the American-Hungarian Business Council was founded by eleven companies including Johnson & Johnson, Coca-Cola, Eli Lilly, Pfizer and Warburg-Pincus.

There are currently 1,600 U.S. companies operating in Hungary, which have so far invested $9 billion in the country, he added.

He noted that Eximbank will soon open a $550 mln line of credit to help boost U.S. investments in Hungary.

Szijjártó also held talks with UN Under-Secretary-General for Political Affairs Jeffrey D. Feltman in New York yesterday.


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