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Hungarian, Israeli companies discuss cooperation

Hungarian and Israeli company representatives held talks in Budapest on possible cooperation in the areas of farming and farm technology as well as research and development.

Talks were conducted at a meeting organized by the Hungarian Investment and Trade Development Agency (ITDH) and the Israeli Export Institute.

Gábor Simon, trade attaché at the Hungarian embassy in Israel, said Hungary's food processing companies have a good chance on the market in Israel. He added that Brussels agreed a week earlier to expand Israel's preferential VAT quotas.

ITDH and the Israeli Export Institute agreed to further strengthen their cooperation at the meeting.

Hungary's imports from Israel came to $119 million in 2007, figures from the Central Statistical Office (KSH) show. Exports to Israel reached $262 million.

Israeli statistics put bilateral trade between the two countries at $500 million in 2006, including Hungarian exports of $399 million and Hungarian imports of $97 million. (MTI – Econews)