“Economic, trade and investment relations between Hungary and Israel are expanding dynamically, and cooperation with Israeli enterprises is a great help towards the dimensional transition of the Hungarian economy”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a telephone statement to Hungarian news agency MTI from Israel.

While in Israel, the Hungarian Foreign Minister met the directors of IT company NNG (formerly Nav N Go), chemical industry company Tama Plastic Industry, and agricultural company Well Done.

“Israeli companies represent and apply state-of-the-art technology and the latest solutions”, Mr. Szijjártó highlighted. The Minister pointed out that Israeli enterprises are satisfied with Hungary’s economic environment and their cooperation with the Government, and they highlighted the importance of the country’s trained workforce and the competitive advantage afforded by Hungary’s low tax rates.

The Minister drew attention to the fact that economic, trade and investment relations between Hungary and Israel are expanding dynamically; 200 Israeli companies provide jobs for 5000 people in Hungary, trade flow between the two countries exceeded 525 million dollars last year, and over the past ten years the level of Hungarian exports to Israel have never fallen below 300 million dollars.

“Cooperation with Israel is gaining increasing importance during the Hungarian economy’s period of dimensional transition”, Mr. Szijjártó said. “Hungary continues to play an important role in the business strategies of Israeli enterprises; they are maintaining their presence in Hungary, and will be expanding their activities practically without exception”, the Minister told the press.

“By doing so, they will be creating more new jobs and further increasing the technological level of the Hungarian economy, thus contributing to enabling Hungary to be one of the winners of the new global economic era that is based on modern technology”, Mr. Szijjártó underlined.

(Cabinet Office of the Prime Minister/MTI)