“Hungary recognised in time that the Chinese market affords a huge opportunity for high quality Hungarian products and services”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement to public media in Shanghai on Sunday after opening a Hungarian trade centre in China’s business capital.
The Minister, who was in Shanghai as a member of a Hungarian delegation headed by Prime Minister Viktor Orbán, explained: “Hungary was quick to recognise the importance of the new global economic processes, and the fact that capital now not only flows from West to East in search of cheap labour, but the flagships of the modern industrial revolution are large far-eastern companies that represent the newest level of technology, and which are acquiring increasingly large shares of the market in both Europe and North America”.
“Last year, the record for Hungarian exports to China was broken, with the value of exports exceeding 2.7 billion dollars”, Mr. Szijjártó also stressed.
“However, there is continuous competition for Chinese market opportunities, every economy of every country in the world is vying for the market opportunities offered by the world’s fastest growing economy”, he pointed out.
“This is why we have decided to open a Hungarian trade centre in China’s business capital, Shanghai, which provides an opportunity to showcase Hungarian products on an area of 1700 square metres, and which also guarantees the availability of suitable infrastructure, market research and partners for Hungarian small and medium-sized enterprise”, the Minister of Foreign Affairs and Trade told the press.
He indicated that trade representations will also be opened in six other Chinese cities, each with populations exceeding ten million people, meaning there will be trade centres in China’s seven most important commercial hubs, which will afford Hungarian enterprises the chance to achieve success on the Chinese market.
“It must also be noted that Chinese enterprises are continuing to show major interest in Hungarian investment and development opportunities, which is particularly true for the automotive industry”, he continued.
With relation to this, he told reporters that an agreement is about to be concluded with one of the world’s largest, Chinese automotive suppliers. “We are talking about a major investment in Eastern Hungary worth over 110 million dollars, which will be the company’s first production centre outside China”, he explained. “We will be publishing the details and the name of the company shortly”, he indicated.
(MTI)
