Minister Martin welcomes dynamic growth in Irelands trade with Hungary

Mr Micheál Martin T.D., Minister for Enterprise, Trade and Employment, today Wednesday, 21 September, told Hungarian and Irish business executives that two-way trade increased by 20% last year to over €360 million, with sales by Irish companies in Hungary at €150 million.

The Minister addressed a trade dinner in the Kempinski Corvinus Hotel, Budapest as part of a trade mission organised by Enterprise Ireland. “In its first year of full EU membership, Hungary’s integration has been smoother than many anticipated. It is an opportune time for a substantial expansion in the number of strategic alliances and joint ventures between Irish and Hungarian partners – and deepening those that currently exist – to take the fullest advantage of the new dynamic business environment.

“Irish companies are keen to do business with Hungary and see trade opportunities right across the business spectrum and particularly in sectors where Irish companies are already active – specifically in the electronics industry, software, engineering, renewable energy and environmental services. A growing number of Irish companies have put down roots in Hungary through sales offices, production facilities and other investments and this underlines the range of opportunities that exist for expanded trade between Ireland and Hungary.

“Irish companies are in a good position to work with their local partners to develop significant business from a Hungarian base throughout the Central European region.” Minister Martin said.