Germany has been Hungary’s most important partner from both political and economic aspects, Minister for National Economy Mihály Varga said at a two-day international conference organized by the Konrad Adenauer Foundation, the Antall József Knowledge Centre and the Andrássy Gyula University of Budapest, adding that feedback by German enterprises plays a special role in Hungarian economic policy.
In his speech on Hungarian-German economic relations, the Minister stated that the Government continues to focus on making the Hungarian investment environment more attractive and predictable, and concerning these efforts the Government is expecting constructive contribution from German companies.
Mihály Varga highlighted the success of cooperation with the German-Hungarian Chamber of Industry and Commerce, noting among major results the conclusion of a vocational training cooperation agreement, the presentation of skills awards, a joint assessment of the Chamber’s economic report for 2015, the professional consultation with the Suppliers’ Working Group of the Chamber and the electronic trade and transport control system (EKAER) campaign one month ago.
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The Minister said that the past couple of years were a resounding success in terms of bilateral economic relations. A far as foreign trade data are concerned, Germany is Hungary’s one number trade partner. Thanks to the above 10 percent export volume growth recorded in Hungary last year, the share of German exports within the total volume rose above 27 percent. The number of German enterprises active in Hungary exceeds 6000, and the volume of FDI by Germany over the past 25 years exceeded EUR 20bn.
(Ministry for National Economy)
