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Feb 14, 2017

Japan is Asia's biggest investor in Hungary

151 Japanese companies employ a total 31,000 people in Hungary, and seven of those businesses have been included in the government’s strategic partnership program

Japan is Hungary’s leading Asian investor, according to Péter Szijjártó, minister of Foreign Affairs and Trade.

The minister announced the news during an official visit to Japan where he was received by his Japanese counterpart, Fumio Kishida.

Minister Szijjártó said that Japan is not only Asia’s biggest investor in Hungary but also an important export market for Hungary. It imports premium products such as Herend porcelain and is Hungary’s second most important export market in Asia.

According to MTI, 151 Japanese companies employ a total 31,000 people in Hungary, and seven of those businesses have been included in the government’s strategic partnership program.

The 151 firms have invested a combined 4.4 billion USD in Hungary, he added. Concerning his talks, Minister Szijjártó said that agreements had been signed with four further companies which would invest 26 billion HUF in Hungary and create 400 jobs. He noted that in central Europe, Hungary is a top exporter to Japan with bilateral trade exceeding 2 billion USD.

This is why the Hungarian government, in accordance with Japan, wants the EU to conclude a free trade agreement with the Asian country, Minister Szijjártó added. He said that an agreement was also reached on strengthening cooperation between the Visegrad Four grouping and Japan, a priority for Hungary during its V4 presidency starting in July.

Current political issues were also discussed, Szijjártó said, adding that the Hungarian and Japanese side both resolutely condemn North Korea’s recent ballistic missile test which fundamentally threatens regional security.

Hungary’s foreign minister also agreed with Japanese counterparts on expanding Hungarian food exports to Japan and on investments in Hungary’s autos industry.