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Hungary could set up trading houses in autumn

Hungary could establish trading houses in Azerbaijan, China, Russia and Saudi Arabia in the autumn, state secretary for foreign affairs and trade Péter Szijjártó said in an interview published in Monday's issue of business daily Világgazdaság.

The four countries symbolize the government's policy of opening up to the East, Szijjártó said.

The government decided in the spring to establish trading houses to support SME exports. They will support the implementation of a foreign trade and investment strategy for 2012-2020 that places emphasis on broadening ties with Asian markets.

Szijjártó said Hungary would like to sign a financial agreement with China this year that will cement the two countries' economic cooperation.

Speaking about other target regions in the world, he mentioned the Western Balkans, such as Macedonia, where the energy sector and infrastructure offer opportunities for Hungarian companies. He added that a forum for Arab investors would be held in Budapest at the end of September.

Szijjártó said Hungary had established strategic partnerships with Kazakhstan and Georgia as well as with Azerbaijan. Hungarian companies participated in the construction of Georgia's second-biggest airport which is soon to be inaugurated, he added.