The Hungarian fashion label Nanushka opened a store in London on Friday. Speaking at the opening, Péter Szijjártó, the minister of foreign affairs and trade, said it was crucial for Hungary to have businesses that can succeed internationally. Building global brands, he said, was one of the pillars of Hungary’s economic policy. The Hungarian government’s implementation of the biggest economic programme in modern Hungarian history has allowed it to mount the most effective response to the coronavirus pandemic out of all European countries, Szijjártó said.
The minister said that though global foreign direct investment last year was down 42%, Hungary during this period saw a 140% increase in FDI. And though global trade fell by 9% in 2020, the value of Hungarian exports exceeded 100 billion euros, putting the country in 12th place globally in terms of exports as a percentage of GDP, he added.