Foreign minister Peter Szijjarto – Photo: Facebook

Szijjarto: Hungary economy benefits from cooperation with Mexico

Hungary's economy has benefitted a lot from cooperation with Mexico, its leading partner in Latin America, and Hungarian companies have "profited much" from Mexico's industrial development, Peter Szijjarto, the minister of foreign affairs and trade, said on an official visit to Mexico City on Friday.

Bilateral trade has leveled out over one billion dollars a year, with a “significant” Hungarian surplus, the foreign ministry quoted Szijjarto as saying in a statement.

Demand for the products and services of Hungarian companies is growing, in digital construction planning, the pharmaceutical industry, the production of health-care equipment and the printing industry, the minister said.

“The increase in demand for Hungarian products in these branches of industry gives rise to Hungarian investments,” he said.

Szijjarto noted that Mexico plans to go GMO-free in some farming sectors and said that could translate as “big opportunities” for Hungary’s “world-class” food safety companies.

The minister said Hungary was advocating for an update of the “outdated” cooperation agreement between the European Union and Mexico signed more than 20 years ago.

Szijjarto is meeting later in the day Marcelo Ebrard, his Mexican counterpart, Economy Minister Raquel Buenrostro and Culture Minister Alejandra Frausto, as well as with local business leaders.

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