Hungarian National Trading House opens local unit in Brazil

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The Hungarian National Trading House (MNKH) has opened a unit in Rio de Janeiro in line with the expectations, the trade promotion company announced today.

Brazil is Hungary's second-biggest trade partner in Latin America after Mexico, the MNKH said.

The MNKH partners with local trading houses to find new opportunities for Hungarian companies on foreign markets. The company was established as part of the government's policy of opening up to markets in the East.

The unit in Rio was the 14th such one established by the MNKH, but it aims to raise the number to 25 by the end of this year.

MNKH CEO György Kerekes said a few days earlier that a local unit would open in Mexico by year-end, and another was expected to open in Chile later.

Kerekes told Hungarian business daily Napi Gazdaság that after targeting developing countries, the company would focus on the United States, Canada, Japan and Korea.

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