The Hungarian National Trading House and KOSGEB, the Turkish agency responsible for the development of small and medium-sized enterprises, have signed a cooperation agreement. The primary objective of the professional cooperation, which follows lengthy preparation processes, is to increase the number and the value of business and investment collaborations among Hungarian and Turkish enterprises, thus further strengthening bilateral trade relations between the two countries.
Economic and diplomatic cooperation between Hungary and Turkey has been exemplary in recent years, which has also led to quantifiable results in the bilateral trade relations between the two countries. The volume of Hungarian export to the Turkish market increased by over EUR 680 million between 2010 and 2017, and it exceeded EUR 1.8 billion last year.
To further enhance the partnerships among Hungarian and Turkish enterprises, the Hungarian National Trading House (MNKH) organized the Hungary-Turkey Business Forum, which was attended by approximately 150 companies from the two countries. At the event, which also provided an opportunity for personal business negotiations, the Trading House and KOSGEB, the Turkish agency responsible for the development of small and medium-sized enterprises, signed a cooperation agreement.
This professional collaboration aims to make business and investment cooperation between the Hungarian and Turkish SME sector even more dynamic, to provide up-to-date market, legal and economic information, as well as targeted partner search and mediation.
“Hungarian-Turkish bilateral trade and economic relations have reached a major milestone. Now, through a more pronounced role of the state, we can provide a professional background that is more efficient, more focussed, and more tailored to the enterprises’ needs” said Gábor Ligetfalvi, CEO of the Hungarian National Trading House.
The cooperation between MNKH and KOSGEB provides an excellent opportunity for companies to exploit the strategic benefits of the geographic location of the two countries more effectively. Turkey is where Asia and the Arabian Peninsula meet Africa and Europe, while Hungary is a state playing a major role in Central Europe, a transit country in terms of economic and trade relations with the Balkans, and, as a member of the European Union, for Turkish companies it is also the gate to a market of 500 million people.