Institutional changes to boost export

Conferences

The government's strategic goal is to boost exports and trade and to make Hungary the country with the highest level of foreign capital per capita in Central Europe, Péter Szíjjártó, the state secretary for foreign trade and investment, said on Thursday.

From 2014, Hungary's foreign policy will focus on the external economy, he said. Institutional changes to help these goals will include the separation of export development and investment promotion areas. Export development will fall under the wings of the Hungarian National Trade House Company and a separate agency will be set up to promote investments under the Hungarian Investment and Trade Agency (HITA), he told delegates of the Budapest Chamber of Trade and Industry (BKIK). The network of diplomats in external economy will be organised as part of a unified system of foreign affairs and external economy, he added.

Szíjjártó said Hungary's export sector was driven by agriculture, food industry, engineering services and information technology. He added that Hungarian exports are too dependent on multinational companies, so the number of small and medium-sized companies (SME) dealing in exports should be increased to 12,000 by 2018.

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