Hungary’s membership of the Asian Infrastructure Investment Bank offers Hungarian businesses major opportunities for entering Asian markets, Finance Minister Mihály Varga stated after he received in his office Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB).

The Finance Minister added that in the future Hungarian businesses could play a prominent role, among others, in the infrastructure development and water projects of one of the world’s largest banks.

Hungary has been a member of the Asian Infrastructure Investment Bank since June 2017. As one of the world’s most important development banks which was established recently, it has already financed investments to the value of more than USD 8 billion, Mr Varga pointed out, highlighting that the bank’s representatives wish to strengthen cooperation primarily in the wider expansion of Hungarian businesses abroad, but the possibility of opening a regional office in Budapest has also emerged.

He said our membership strengthens Hungary’s global financial and economic relations, and helps to provide better access for Hungarian businesses to Asian markets. The developments financed by the AIIB support the expansion of Hungarian exports and contribute to the implementation of a new Silk Road concept. Mr Varga recalled that the bank can be regarded as a prominent player in the area of water management as well; at the initiative of Hungary, they were the first development institution to start developing a specific water strategy.

(Ministry of Finance/MTI)