Mainstreaming cooperation with Hungary

On 16 October 2018 in the course of the visit to Budapest (Hungary) IBEC Chairman Mr. Denis Ivanov had meetings with the Deputy Prime Minister for Economic Policy, Minister of Finance Mr. Mihály Varga, Minister of Foreign Affairs and Trade Mr. Péter Szijjártó and CEO of the Hungarian Export-Import Bank Mr. Gergely Jákli.

Mr. Ivanov presented IBEC’s recent business results, ongoing and planned reforms and the Bank’s strategic vision on future activities, including cooperation with Hungary. Special attention was paid to the fact that Hungary has always been an important economic and political partner of the IBEC Member States and still remains one.

The parties discussed cooperation opportunities and perspectives at this stage and considered a number of scenarios aimed at strengthening and widening collaboration formats. Moreover, CEO of the Hungarian Export-Import Bank Mr. Gergely Jákli also submitted strong interest in cooperation with IBEC especially related to supporting export of goods from Hungary to IBEC Member States, including instruments like risks assumption and settlement transactions.

Péter Szijjártó, Minister of Foreign Affairs and Trade stated after the meeting with Mr. Denis Ivanov that Hungary has an open and export-oriented economy, hence it is important to attract more international funding sources to the economy, especially investment and foreign trade. Therefore the Hungarian Government is negotiating to re-enter IBEC in order to increase the involvement of international sources.