Eximbank opens credit line to Hungarian firms in Mexico

Int’l Relations

Hungaryʼs Eximbank has opened a USD 620 million credit line to help the activities of Hungarian businesses in Mexico, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday, speaking by phone from Mexico with Hungarian news agency MTI.

Szijjártó held talks with Minister of Economy Graciela Márquez Colín among others during his official visit.

Szijjártó said Mexico is seeking partners in car manufacturing, needs imports of pharmaceuticals and healthcare equipment, and wants to use European irrigation methods in its agricultural sector, all fields offering opportunities to Hungarian businesses.

Bilateral trade rose to exceed USD 1 billion last year, including Hungarian exports of USD 875 mln.

Szijjártó said Hungary will give HUF 2 bln in support towards the renovation of two Catholic churches damaged during an earthquake in 2017 in Mexico.

On Wednesday, MTI reported that Magyar Eximbank and Mexican development bank Bancomext signed a cooperation agreement on supporting investments by Hungarian companies in Mexico. The agreement extends to the participation of Magyar Eximbank staff at seminars run by Bancomext.

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