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Minister for National Economy Márton Nagy received Dr. Róbert Keszte, the newly appointed President of the German-Hungarian Chamber of Industry and Commerce (DUIHK), Barbara Zollmann, Executive Board Member of the DUIHK, and Dirk Wölfert, Head of Communications at the DUIHK, at his office on Monday.
The talks focused on possible areas for deepening Hungarian-German economic cooperation and strengthening the competitiveness of both countries.
The Minister emphasized that Germany is one of Hungary’s most important economic partners. It is a significant achievement that, thanks to the favorable business environment, four-fifths of German companies that have invested here would choose Hungary again as their investment destination.
German companies employ nearly 235,000 people in Hungary, and Germany accounts for 24% of Hungary’s foreign trade, making it Hungary’s number one trading partner. In addition, Germany is also its largest capital investor, with €20.1 billion of Hungary’s total €107.5 billion in FDI coming from German companies.
The parties agreed that Hungary and Germany both have an interest in a strong, competitive European and German economy. The European Union must therefore allocate significant budgetary resources to support its own economy and competitiveness, otherwise it will fall behind its competitors and jeopardize its position in the global economy.
Márton Nagy emphasized during the meeting that Hungary serves as a strategic hub for capital and technology from both East and West, which is also important for German companies, as demonstrated by the cooperation between BMW and CATL in Debrecen.
Via MTI; Featured photo: Papp Szabolcs