Hungarian-US joint fund to support exports
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A joint Hungary-US fund supporting small and medium-sized firms in the US export market has been established, Péter Szijjártó, the minister for foreign affairs and trade, said on Tuesday.
Hungary has “outstanding economic growth” compared with the rest of the European Union, Szijjártó told MTI by phone. Also the country is close to full employment and the public debt has been declining steadily.
He said
Hungary has produced successive export records over the past five years and is now among 35 countries to have exported more than 100 billion euros each year.
Outside of the EU, the US is Hungary’s number-one export market, Szijjártó noted. Notwithstanding Hungary’s great potential there, the US is an extremely tricky market to negotiate, he said, adding that, nevertheless, Hungary exported 3.5 billion dollars-worth to the US last year, up an annual 11 percent.