Germany still key trade partner to Hungary
Tuesday, August 9, 2005, 12:58
Despite the attention Hungarian economic diplomacy has recently given to South-East Asia or South-East Europe, Hungary?s cooperation with its most important foreign trade partner Germany is continuing unabated. According to Világgazdaság information, Economy Minister János Kóka is to take part in at least one ?Germany-related? event every month in the second half of 2005. These events are mainly lobby meetings accompanying international exhibitions and German-Hungarian business negotiations. Nearly a third of Hungary?s foreign trade is linked to Germany. Almost 25% of the foreign working capital in Hungary, which exceeds Euro 12 billion, comes from Germany and German companies in Hungary employ over 200,000 people both in the industry and service sectors.