“The Government is in negotiation concerning Hungary’s re-joining of the International Bank for Economic Cooperation (IBEC) in the interests of increasing available international resources”, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday following talks with International Bank for Economic Cooperation (IBEC) Chairman Denis Ivanov.

According to the Ministry, Mr. Szijjártó said: “Hungary has an open and export-orientated economy, and accordingly it is important for it to include as many international financing sources as possible into the operation of the economy, with particular emphasis on investment projects and foreign trade”.

“This is one of the reasons why the International Investment Bank's (IIB) decision to open a regional headquarters in Budapest was extremely important”, he added. The members of the International Bank for Economic Cooperation include, amongst others, the Czech Republic, Poland, Slovakia, Vietnam and Mongolia, the Ministry said in the statement.

(Cabinet Office of the Prime Minister/MTI)