Trade between Hungary and Singapore exceeds 1 billion mark

Trade between Hungary and Singapore reached 1 billion dollars last year, Minister of Foreign Affairs and Trade Péter Szijjártó said in Singapore on Wednesday, adding that trade is on the rise, with a 46 percent increase so far this year. Hungarian companies have invested 350 million dollars in the city-state, and Singaporean companies employ more than 7,000 people in Hungary, Szijjártó said, according to MTI. he said at the Hungarian-Singaporean IT Business Forum. As a country of 10 million people without a coastline or abundant natural resources, Hungary relies on the performance of its people, Szijjártó said, underscoring the importance of the ongoing shift to a knowledge-based economy. He also attended the largest food industry fair in Southeast Asia, where an agreement was reached on the large-scale export of Hungarian mangalica pig and pigeon meat to Singapore. Singapore is a great opportunity for Hungarian agriculture and its food industry, he added. Last year, the value of ...