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Business Opportunities Between the Two Countries Were Discussed in the Hungary Country Day Organized by ICI

20.05.2019
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Istanbul Chamber of Industry (ICI) introduced the business and investment opportunities in the country with the Hungary Country Day event for Turkish industrialist and business people. Numerous industrialists and business people participated in the event where Viktor Matis, the Ankara Ambassador of Hungary participated in the meeting hosted by Erdal Bahçıvan, ICI Board of Directors Chairperson. Business people carrying out business in Hungary were informed thanks to the panel organized.

Erdal Bahçıvan, ICI Chairperson who made a speech at the opening of the event said that powerful historical relations and bonds between the two countries got a new acceleration in the establishment years of the Republic. Reminding that Türkiye signed the first official agreement with Hungry on 18 December 1923 following the establishment of the Republic, Bahçıvan expressed the value which Ataturk, the Great Leader attached to Hungarian nation with the words “I admire the Hungarians sincerely whose spiritual and intellectual skills I appreciate highly.”

Stating that the relations between Türkiye and Hungary should be taken into considerations in the international relations, Bahçıvan expressed that there has been a reciprocal sympathy and communion bond between two countries. Stating that the relation between the countries has been positive within the framework of the cooperation in the international organizations especially EU and European Council and the support which Hungary has provided for the EU membership of Türkiye, Bahçıvan drew attention that the relations have improved further thanks to the official visits increased recently.

Expressing that the trade of industrial products between the two countries has totally been liberalized since 2001 with the Türkiye-Hungary Free Trade Agreement which entered into force in 1998, Bahçıvan recorded that the bilateral foreign trade volume continued by increasing upon the participation of Hungary into European Union and Customs Union in 2004. Telling that the Hungary Government following an economy-focused foreign policy considers Türkiye as one of the central countries of the “Expansion to the East” policy, Bahçıvan drew attention that a “Trade House” was opened in Istanbul in 2013 in this regard. Bahçıvan said that Hungarian Eximbank opened an office in Istanbul in 2015 and there are Trade Houses in various provinces of Türkiye.

Bahçıvan continued:

Thanks to its strategical location, sustainable macro economy, investment-friendly and stable political environment, Hungary provided highly significant advantages for Turkish companies. Besides, Türkiye is an important country which is a candidate to become a supplier for Hungary from automotive to textile, from food to industrial products. This is an undeniable fact that we should spend more effort to increase the economic relations between our countries in this sense.

Macaristan’ın Ankara Büyükelçisi Viktor Matis

Viktor Matis, Ankara Ambassador of Hungary took to rostrum to present his speech regarding the event. Matis said that the strong relations started in Ataturk’s period continue today. Matis added that even though both countries are not neighbors to each other politically, the bond between them is very strong and there is a communion bond between them. Stating that the cultural relations are of vital importance in this sense, Matis expressed that Culture Institute takes place in Istanbul and Türkiye has a culture ambassador in Budapest. Stating that apart from the political and cultural relations, there is a long way to go in economical sense, Matis said that there was a target to increase trade volume which was 2 billion TL in 2013 into 5 billion and today’s target is to increase it to 6 billion dollars.

Underlying that they should spend maximum effort to realize this target and they are ready to do it, Matis stated that their first purpose as the Embassy is to improve the economic relations. Touching upon that Turkish business people haven’t had the adequate information about Hungary, Matis recorded that they are making effort to provide information about the opportunities in their country.

Ticaret Bakanlığı Macaristan Ülke Uzmanı Murat Muştu

A panel titled as Cooperation and Investment Opportunities in Hungary Market was organized. Murat Muştu, Ministry of Trade Hungary Country Expert who made a speech in the panel said that Hungary is located at the center of Europe and therefore, it is of great importance. Stating that Türkiye-Hungary Business Council established in 1991 has carried out active organizations, Muştu told that while EU receives share for 78 percent out of Hungary’s export, it receives share for 74 percent out of its import. Expressing that there are mostly highway vehicles in Hungary’s export to Türkiye and import from Türkiye, Muştu added that potential sectors are raw fruit and vegetable, hard-shell fruit, drug, package and auto key and sub-industry.

Macaristan’ın İstanbul Başkonsolosluğu Ticari Ataşesi Zsófia Kakas

Zsófia Kakas, Trade Attaché of Istanbul Consulate General of Hungary provided information regarding the investment incentives on Hungary which she defined as the country of opportunities. Stating that the country has a growth rate for 4,4 percent, Kakas recorded that the unemployment was at the rate of 3,6 percent and this is the lowest rate within EU. Stating that automotive logistics, automotive food sectors are of vital importance for international investment, Kakas expressed that corporate tax by 9 percent has been applied in the country and this is the lowest rate within EU. Kakas told that the investment encouragements have undergone a change regionally and supports have been provided for different regions.

Fikret Nas, ALX Hungary General Director, Serdar Önsöz, METYX-Telateks Finance Group Director, Harun Hasyüncü, Ravaber Yapı Ürünleri General Director, Çağrı Kırteler, Otokoç Automotive International Operations Director shared their experiences which they acquired in the investments in Hungary in the panel titled as Experiences of Turkish Firms Carrying Out Business in Hungary chaired by Arda Tugay, the Key Representative of Hungary Eximbank Türkiye. Then, the questions of the listeners were answered by the panelists.