Office opened in the technological centre of the Middle East - May 13, 2015
In harmony with the strategy of external economy manifested in the Opening Towards East Policy of the Hungarian Government, the Hungarian National Trading House further strengthens its presence in the Middle East region by opening a Trade House in Israel. The main purpose of establishing an office in Tel-Aviv is to further improve the economic relations between the two countries, particularly to offer new export opportunities for Hungarian small- and medium-sized companies.
The Hungarian export to Israel was worth 358.9 million USD in 2014. At present, industrial machinery and mechanical equipment represent two-third of Hungary’s export, while pharmaceutical raw materials and finished goods, chemicals, plastics, electronic products, and agricultural produces also have a significant share in the two countries’ economic relations. Industries with cutting-edge technologies contribute greatly to the high standard of Israel’s industry known as the second most advanced technological centre in the world. This is the area one can witness the largest development mostly driven by state investment projects. Plenty of resources are allocated for research and innovation every year. Israel is a world-leader in terms of the number of start-up companies per capita.
With the view to further strengthen its presence in the Middle East region, HNTH opened office in Israel on 13 May 2015 to provide Hungarian small and medium-sized enterprises with new export opportunities.
In the official opening ceremony Deputy Minister for the Ministry of Foreign Trade and Affairs Dr. László Szabó said ‘We are proud of Hungary’s key role in the cooperation between Israel and Central Eastern European countries. Israel is an important and stable partner in Near East, an important export market for Hungarian products, but there are still potentials to further develop sales relations’.
The Hungarian National Trade House sees dual export opportunities in the technological centre of Middle East. Gábor Kun, deputy General Manager of the Hungarian National Trade House said ‘The Hungarian National Trade House has been mediating in the interest of Hungarian small and medium-sized enterprises to enter the Israeli market, especially in agricultural and biotechnology, high-tech industries, water management, infocommunications, and engineering services.”