Hungary-Singapore
Cooperation with Singapore will bring many benefits to Hungary and Europe.
The value of bilateral trade could reach a record high this year, local companies are showing increasing interest in investment opportunities in Hungary, foreign ministers informed Péter Szijjártó on Wednesday in the city-state.
Dyson, a leading manufacturer of household appliances, is planning to invest in Hungary. “We had a very successful discussion about this today and will be able to report details of this investment in a few weeks. Many countries competed for the investment of the world’s most innovative manufacturer of consumer electronics, headphones, vacuum cleaners, hair dryers and other appliances, this time Hungary emerged as the winner,” said Szijjártó.
After his talks with Mohamad Maliki bin Osman, Minister in the Prime Minister’s Office in Singapore, and Trade Minister Grace Fu, Szijjártó explained that bilateral trade exceeded USD 1 billion last year and that the prospects for this year are good, after The export of pork and poultry meat was recently approved for 24 Hungarian food companies.
Singapore is Hungary’s largest trading partner in the Southeast Asian region. The EU is also interested in closer cooperation with Singapore, which is why Hungary will work intensively on negotiating a digital trade agreement during its presidency this year. However, it is sad that only 16 member states, including Hungary, have ratified the investment protection agreement between the EU and Singapore that was concluded years ago.
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