ADVERTISEMENT

Govt takes steps to deepen Hungarian, Turkish economic ties

Int’l Relations

Hungary's government has taken the necessary political steps to deepen economic cooperation with Turkey and aims to double bilateral trade between the two countries in a short time, state secretary for foreign affairs and external economic relations Péter Szijjártó said on Wednesday. Hungarian exports to Turkey came to $1.6 billion last year, Szijjártó said, speaking at a Turkish business seminar organised by the Hungarian Chamber of Commerce and Industry (MKIK). Hungarian imports from Turkey reached $500 million, he added. At present, 38 Hungarian companies are operating in Turkey, while 293 Turkish companies are operating in Hungary. Szijjártó said trade between Hungary and Turkey could be boosted by cattle exports as well as projects in the areas of construction, water management and environmental protection. About 70,000 of the 110,000 live cattle Hungary exported last year went to Turkey, he added. Turkey is undergoing a four-year $15 billion hospital construction programme, and Hungarian companies are in talks on participating in it, he said. Talks are also underway on cooperating on instruction in nuclear sciences, he added. Hungary is open to any proposal to establish a trade house in Turkey, Szijjártó said.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.