Important Japanese car-parts maker to invest in NE Hungary

A leading Japanese manufacturer of car parts will make an investment in northeast Hungary, Foreign Minister Péter Szijjártó said on Wednesday in Tokyo after signing an agreement on the project.

The 13 billion forint (EUR 39.2m) investment project will create 300 new jobs, Szijjártó said by phone, adding that further details would be disclosed in the upcoming weeks.

Japan is the largest Asian investor in Hungary and the country’s third biggest trade partner in Asia.

It is the largest market for Hungarian food products globally, especially for pork and poultry, he said. However, Japan introduced major import restrictions in the wake of bird flu and swine fever, global problems that had an adverse effect on Hungary‘s agriculture, he added.

Szijjártó said he had met Japan’s Minister of Agriculture, Forestry and Fisheries Taku Etoh.

It was agreed at the meeting that a solution would be found in the near future to enable Hungarian pork to return to the Japanese market.

Szijjártó said he had also met Minister of Education, Culture, Sports, Science and Technology Koichi Hagiuda.

Source: mti