Connect with us

Hi, what are you looking for?

Economy

Hungary interested in expanding agriculture, technology exports

HUNGARY is looking to expand its exports of agricultural products and technology to the Philippines, the head of its export promotion group said.

“Hungarian exports in your direction are less than your exports in our direction so I think our role is… balance to near (parity),” Hungarian Export Promotion Agency Chief Executive Officer Kristóf Szabó said in an online forum Tuesday.

The agency is a non-profit company that assists Hungarian firms in entering foreign markets.

The agency’s goal, Mr. Szabó said, is to return Hungarian exports to levels prior to the decline seen in the past few years — or to match Philippine exports to Hungary, which outweigh its imports by about six to one.

“Agriculture, technology, metal industry, and electronics could be a robust base for further export activities,” he said.

Mr. Szabó added that food and aircraft firms are negotiations for export facilities.

Trade Undersecretary Ceferino S. Rodolfo at the same event said most Philippine exports to Hungary consist of electronics and eyeglass lenses.

The Philippines and Hungary have identified water management and food as areas for potential cooperation, the trade department said last year after an economic meeting between the two economies.

Philippine exports to the European Union last year declined 17.5% to $6.8 billion, representing 10% of total Philippine exports for 2020. Imports from the region plummeted 33.5% to $6.2 billion, according to the Philippine Statistics Authority. — Jenina P. Ibañez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

IN MANY PARTS of the world, inflation is climbing quickly, including in the US, where I live and where inflation is now north of...

Economy

AS ELON MUSK tries to add the social media giant Twitter to his expanding empire, he’s seeming a bit busy. When he’s not starting...

Economy

FERDINAND “BONGBONG” MARCOS, JR. — PHILIPPINE STAR/ KRIZ JOHN ROSALES Almost two weeks after the May 9 general elections, people, as expected, continue to...

Economy

A NEW MANAGEMENT is always presumed to need help to navigate unknown waters. There is the corporate culture to worry about (Sir, you must...

Investing

For many, the Great Resignation has been a time of new roles, new opportunities, and career changes. Some have called it the Great Reset....

Investing

The chairman of Marks & Spencer has backed government plans to override parts of the Northern Ireland protocol, saying that some food exported south...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.