TNAG-2021-FCO40-2883-Relations-between-Hong-Kong-and-Hungary-1990 — Page 31

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14.05.1990

SV0008 4 150 MTIe4008 (MTI-ECONEWS)

Foreign trade

Hungarian-Hong Kong trade

A number of Hong 21

Budapest, May 14, 1990 (MTI-ECONEWS) Kong electronics firms displayed their products in Budapest over the weekend in the second exhibition of Hong Kong electronic products in the Hungarian capital this year.

Electronic products make up about a third of all Hungary"s imports from Hong Kong, and amounted to almost 4 million USD last year, Trade Ministry officials said, out of total imports from Hong Kong of 10.6 million USD, compared to 10.9 million USD in 1988.

Hungarian exports rose slightly over the same period from 13.2 to 14.8 million USD, and this figure is expected to rise further this year. In the first three months of 1990 Hungarian exports were worth 4.2 million USD, while imports recahed 3.3 million USD, both figures well up on the corresponding figure last year.

Despite this, trade is not without its problems, since Hong Kong is still reluctant to grant visas for Hungarian businessmen. No Hungarian-Hongkong JV has yet been set up, but preparations are under way to form two, one in pharmaceuticals and the other in food, with a Hong Kong firm looking to establish a fast food chain in Hungary.

Hungary is for the first time to take part in the Trade and Investment Show to be held in Hong Kong shortly. +++

wt/sr/sg/nj/ds

13.32 LMT 140590 1353

Extract from

MTI

ECONEWS (official Hugonion daily

news service about the thuganis ecoming)