PM meets Japanese business leader

Int’l Relations

Prime Minister Ferenc Gyurcsány met Mitarai Fujio, head of the Japanese Business Federation, for talks seeking to promote economic ties in Budapest on Monday.

With the help of investment projects in Hungary, Japan can gain access to the whole of the European Union, Gyurcsány told reporters following the talks. Japan’s aim is to make deals with European Union members which could serve as a basis for further investment projects, Fujio said. He added that he thought Hungary had a suitable business environment. Fujio said agreements ahead include the signing of an investment treaty as well as one on social security services for Japanese employed in Hungary.

A delegation of businessmen led by Fujio met with top managers of the Hungarian companies BorsodChem, TriGránit, MVM and MOL, as well as of the local units of Electrolux and Sanofi.

Hungary’s exports to Japan came to $400 million in 2007, up 6pc from 2006. Japan’s exports to Hungary rose 20% to $2.64 billion. Japanese companies invested €2.4 billion in Hungary in 2000-2007, according to the Hungarian Investment and Trade Development Agency (ITDH). So far this year, ITDH has organized four big Japanese investments in Hungary, two in the automotive sector, one in electronics and one in renewable energy. (MTI-Econews)

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