PM Orbán, Hungary Hold Talks With Indiana Governor Eric Holcomb

Publicated on: June 14, 2017

Indiana Governor Eric Holcomb traveled to Hungary earlier this week as part of an international trade mission, meeting with Hungarian Prime Minister Viktor Orbán and Foreign Minister Péter Szijjártó in Budapest and attending a special business forum organized by the Hungarian Investment Promotion Agency (HIPA). Governor Holcomb’s June 13-14 visit culminated in the signing of an economic cooperation agreement recognizing the dynamic expansion of bilateral trade between the US and Hungary over the past decade.

In a meeting at Hungarian Parliament with Indiana Governor Eric Holcomb and Indiana’s Secretary of Commerce Jim Schellinger, Prime Minister Orbán and Foreign Minister Péter Szijjártó highlighted Hungary’s low corporate tax rate, high GDP growth rate and historic level of investor confidence.

The Foreign Minister also affirmed that the United States is Hungary’s most important trading partner outside the European Union with the fifty largest American multinational corporations present in Hungary and over 1,700 US companies and subsidiaries in total currently operating in Hungary.

“Economic relations are expanding dynamically and trade flow between Indiana and Hungary was around 100 million dollars last year, and doubled proportionally during the first quarter of this year. This contributed to trade flow between Hungary and the United States increasing by 11 percent during the first quarter,” said Szijjártó.

Foreign Minister Szijjártó and Governor Holcomb subsequently signed a memorandum of understanding on the conclusion of an economic cooperation agreement between the Ministry of Foreign Affairs and Trade and the Indiana Economic Development Association in Budapest on Wednesday, June 14.

Governor of Indiana Eric Holcomb told reporters in Budapest that the conclusion of the bilateral agreement will enable closer cooperation and will assure that the governments of Hungary and Indiana will be in regular contact to ensure that mutual opportunities for economic development are suitably exploited.