The performance of the Hungarian economy is attracting more and more investors to Hungary also from the Asian region; in the past few years, Indian-owned businesses have invested more than EUR 2 billion in Hungary.

Evaluating the meeting, Finance Minister Mihály Varga said economic relations between the two countries have played a dominant role in bilateral cooperation for years. The volume of trade between India and Hungary is continuously on the increase; in 2017 there was a 17 per cent growth, followed by an 11 per cent increase last year. The parties agreed that Hungary, with its advanced infrastructure network and continuously improving business environment, could be an ideal regional centre also for Indian companies which wish to target the wider European market.

Hungary supports the development of closer economic relations between Europe and India, the Minister stressed. He said we believe it is an important achievement that last December the EU’s Foreign Affairs Council adopted a new EU-India Strategy which could further boost the development of relations not only in the economy, but equally in the fields of global security and sustainable growth.

(Ministry of Finance / MTI)