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Hungary, Indonesia plan more business partnerships

Int’l Relations

Hungarian business delegates are finding potential investments in their visit to Indonesia, the director general for international industry cooperation in the Indonesian Indusrty Ministry told the Jakarta Post yesterday.

Agus Tjahajan said that Hungary sees Indonasia as a country “with rapid economic growth” and that Hungarian businessmen see “a lot of opportunities to be grabbed there”.

Agus added that further investments are expected by Hungarian companies in specific areas, such as the steel, machinery and electronics industries. The expansion is expected to be bilateral, as Indonesian firms with an international reputation are also planning to expand in Hungary.

As a result of the cooperation, of the countries, bilateral trade increased in 2013 to $201.52 mln, an almost 5% rise as compared to 2009. The peak in trade of $438.4 million, was reached in 2011, and the trend has been heading downward since then.

The current visit is a follow-up of President Susilo Bambang Yudhoyono trip to Hungary last year.

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