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Hungary Boosts Trade Relations With Mexico And Ecuador

Tamás Székely 2015.03.28.

Foreign Minister Péter Szijjártó opened a Hungarian trading house in Mexico City and signed several agreements with the Mexican government. He also requested Hungary’s admission to the Pacific Alliance as an observer. After talks with Mexico’s Secretary of Economy Ildefonso Guajardo Villarreal and Secretary of Foreign Affairs Jose Antonio Meade Kuribrena, Szijjártó noted that Hungarian exports to Mexico last year increased by a record 17% to 640 million dollars. Hungary wants to further increase exports this year, he added. “First, we opened our trading house which had already struck its first export deal and sold Hungarian wines for 15,000 dollars,” he said.

In addition, Hungary’s Eximbank has opened a 287 million dollar credit line to help cooperation between Hungarian and Mexican companies, and the meeting of a Hungarian-Mexican mixed committee has been called for April 27, Péter Szijjártó said. Talks will be restarted on an investment-protection deal, Hungary has offered 40 scholarships to Mexican students at Hungarian universities and agreements have been signed on cooperation in diplomat training, education and tourism, he added. He said Mexico is Hungary’s second most important economic partner in the American continent after the US and its number one partner in trade and investment in Latin America. He added that the last time a Hungarian foreign minister visited the country was 23 years ago.

Earlier this week the Hungarian Foreign Minister also visited Ecuador, where he held talks with acting Minister of Foreign Trade Genaro Baldeon, Foreign Minister Ricardo Patino and Vice-President Jorge Glas to discuss bilateral diplomatic and economic relations. From now on, Ecuador will consider Hungary its regional trading hub in eastern Europe, Péter Szijjártó said after the talks.  Hungary will reopen its embassy in a month or two, and establish a trading house in August, he announced. The measures are expected to give a boost to what is now a “low” bilateral trade turnover of 6.6 million dollars a year, he said.

Szijjártó and his negotiating partners identified four prospective areas of cooperation, namely information technology and innovative industries, water management, medical technology and trade in pharmaceuticals. It was agreed that Hungary would grant scholarship to 50 Ecuadorean students in its universities, he said. Hungary’s focus on Ecuador is all the more justified as Quito is the seat of the Union of South American Nations (UNASUR) and Ecuador is holding the rotating presidency of the Community of Latin American and Caribbean States (CELAC), Szijjártó said.

via hungarymatters.hu photo: kormany.hu / MTI


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