Hungarian entrepreneurs have decided to launch an enterprise in Australia

The Budapest Chamber of Commerce and Industry (BKIK), Australian Department, organised a successful workshop at which interested Hungarian entrepreneurs were able to learn everything about the remote continent that might assist them in their activities, GLOBS Magazine said.

Australia is far away so, until now, few Hungarian entrepreneurs have decided to launch an enterprise there. The opportunities, though, are great and all you have to do is find your way there. According to Head of Department, Éva Szerbin, the workshop was an ideal opportunity to collect all the questions and create a good base for future work. The value of Hungarian-Australian bilateral trade is relatively moderate but has been developing dynamically over the past few years. Some of the main Australian exports are wool, chemical materials, medical and measuring instruments and educational and IT services.

In Hungarian exports, highly processed industrial products have a large share in the product structure and more than 60 % of total exports are made up of telecommunications equipment, vehicle components, computers and computer components and electrical industry equipment. The structure of Hungarian exports shows that multinational companies play a dominant role. In practice, that is related to intra-corporate trade between subsidiaries. The Hungarian Chamber of Commerce and Industry wishes to help change that.