“Hong Kong offers excellent business and trade opportunities for Hungarian enterprises that offer premium products and services”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a telephone statement to Hungarian news agency MTI on Monday following talks with the Chief Executive of Hong Kong, its Minister for Trade and Economic Development and Minister of Finance.

The Hungarian Foreign Minister underlined: “Hong Kong is particularly appreciative of Hungary’s foreign policy based on common sense, according to which Hungary does not wish to interfere in the internal affairs of other countries”. “The excellently developing bilateral economic cooperation is proven by the result that trade flow between Hungary and Hong Kong exceeded 1.2 billion dollars by the end of last year, making Hong Kong Hungary’s fourth largest Asian partner after China, South Korea and Japan”, he stated.

From among the advantages offered by Hong Kong, the Minister highlighted the fact that the city poses hardly any non-customs restrictions, in addition to which customs procedures occur extremely quickly. “In view of the fact that there are 63 Michelin star restaurants in the city of 7 million, there is significant demand for Hungarian premium quality foods, and dishes made from Hungarian Mangalitsa pork and Hungarian wines can already be sampled in several local restaurants”, Mr. Szijjártó said. “Hungary has already received import licences for several product groups, including pork, poultry and beef, and the list of products will soon be added to by lamb and goat meat, thanks to which the export market for premium quality Hungarian food industry products will be increasing even further”, the Minister pointed out.

“The Chinese government and the administrations of Hong Kong and Macao are currently working on a major project aimed at developing the East China region, for which they are looking for suppliers who can guarantee local public administration and entrepreneurial operations from a security perspective, with relation to which there is major interest in Hungarian cyber security procedures and technologies”, the Minister explained. “One of Hungary’s largest cyber security companies has become the official supplier of this East China regional development project”, he told the press.

On the subject of inter-university cooperation, which he called the foundation of bilateral relations, the Minister said that four Hungarian universities have found cooperative partners in the city to date, thanks to which continuous research and student exchange programmes are in operation between the parties. “Inter-governmental relations between Hungary and Hong Kong are opening all possible opportunities before trade and economic cooperation”, Mr. Szijjártó said, summarising the state of bilateral relations.

During his visit to Hong Kong on Monday, the Hungarian Minister of Foreign Affairs and Trade met with, amongst others, Chief Executive of Hong Kong Carrie Lam, Minister for Trade and Economic Development Edward Yau, Finance Minister Paul Chan and President of the Hong Kong Trade Development Council (HKTDC) Peter Lam, as well as with the Commissioner of the Ministry of Foreign Affairs of China in Hong Kong. In addition, Mr. Szijjártó gave a speech at the Asian Financial Forum and gave a lecture at an investment seminar for company directors organised by the Chinese General Chamber of Commerce.