As a result, exports to Latin America increased by 18% in the first seven months of the year, he added.

Trade turnover increased by 26% in January-July this year and exports to Paraguay grew by 130%, to Salvador by 93% and to Argentina by 84%, he said.

Despite the achievements, there is plenty of growth potential left in trade between Hungary and the region, he said. Eximbank opened a 1.8 billion euro allocation to finance Hungarian companies’ activities in Latin America. In addition to large companies, small and medium-sized companies (SMEs) are planned to play a special role, Szijjártó said.

Under the arrangements of the policy of opening to the south, Hungary has been opening and reopening embassies and consulate offices in the region.

There are a total of six now in Latin America. Additionally, 256 Stipendium Hungaricum scholarships have been allocated for countries in Latin America and projects have already been started with Uruguay, Argentina, Ecuador, Columbia and Mexico, Szijjártó said.

The two-day Hungary-Latin America Forum which started on Friday focuses on three topics: inter-governmental links and business ties in industrial and economic areas where Hungary can help Latin American countries, for instance in water, waste management and energy, as well as education and science links to mobilise students and teachers.

Source www.hungarymatters.hu - Visit Hungary Matters to sign-up for MTI’s twice-daily newsletter.

MTI photo: Koszticsák Szilárd