Hungarian trading house system coming to an end
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The Hungarian government closes trading outstations and sub-offices world-wide due to the system’s huge economic damage. As 24.hu reports, the closure of trading houses is unexpected even notwithstanding the re-organization of the company group.
The Hungarian National Trading House now falls under the authority of the Hungarian Ministry of Foreign Affairs and Trade. The Trading House will soon be part of HEPA Hungarian Export Development Agency Nonprofit Ltd as a result of a fusion with its subsidiary company. Export Development Promotional Centers will be created following international trends.
According to the Ministry of Foreign Affairs, the 5 centers will operate with decreased functions and will become more focused territorially.
Although Jobbik has formerly queried the Foreign Ministry over the trading house losses, the billions spent on the formulation of the trading house system seem to be wasted, which means the closure of even more offices than expected, as there were more than one offices in the United States and China. There are currently 41 partner countries listed on the website of the trading houses, such as Chile and Mexico.