Economy

Hungary Opens Investment And Trading Centre In Milan

Hungary’s Foreign Minister Péter Szijjártó has opened a Hungarian investment and trading centre in the Italian city of Milan.

The centre’s main task will be to boost Hungary’s exports to the region of Lombardy and to boost investments from that region in Hungary, Mr. Szijjártó told the state news agency MTI through a telephone connection.  He identified outstanding prospects for Hungarian exports in premium quality food, cars, info-communication technologies and machinery. Lombardy with its industrial traditions is a key partner region in northern Italy for Hungary, the minister said.

Mr. Szijjártó said that his talks on Wednesday resulted in agreements with a car manufacturing and a construction company on investing in Hungary. They together will make investments worth a total of 11 billion forints (EUR 35m), creating an initial 200 workplaces, he added. The Hungarian Foreign Minister noted that Italy is Hungary’s sixth largest trading partner with a 7.5 billion euro trade turnover reported in 2014. The volume of bilateral trade increased by 7.3% in the first eight months of 2015, he said.

Mr. Szijjártó also pointed out that in Northern Italy, the region of Lombardy is Hungary’s most important trade partner. The region is where 22 per cent of the country’s GDP is produced and local industrial traditions and geographical proximity make the area a natural partner of Hungary, he stressed.

via hungarymatters.hu
photo: Márton Kovács/Ministry of Foreign Affairs