A delegation from the Hungarian Ministry for National Economy, led by Márton Nagy, is set to travel to Germany to discuss economic growth and strengthen Hungarian-German economic ties. The purpose of the trip is to have discussions with Robert Habeck, the Federal Minister for Economic Affairs and Climate Action, Florian Toncar the Parliamentary State Secretary in the Federal Ministry of Finance, as well as executives from BMW, Mercedes and AUDI.
Hungary’s government aims to restart economic growth this year and further enhance it next year by addressing the duality of the economy, increasing labor market activity, investment and consumption. To achieve these goals, plans include increasing the number of national “champions” to 40, the number of exportable small and medium-sized enterprises to 20,000 and eliminating the profit deficit. Additionally, there is a goal to increase the share of domestic Tier 1 and Tier 2 suppliers to 50%.
The main objective of the delegation is to strengthen Hungarian-German economic ties and promote domestic suppliers. The Ministry highlighted Hungary’s interest in enhancing the economic performance and competitiveness of Germany as it is their most important foreign market. Discussions during the visit will focus on the future of automotive industry, especially on German car manufacturers present in Hungary and electric vehicle sector. Hungary advocates for a single EU support program to stimulate demand for electric cars.
