Trade and Business in Hungary, Budapest

The objectives of the subject “International Trade and Business in” Hungary” are the following:

1. To analyze the Hungarian Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in the Hungarian Market
3. To analyze the trade relations of Hungary with the country of the student
4. To know the Free Trade Agreements of Hungary as a member of the European Union
5. To develop a business plan for the Hungarian Market

1. Pan-European Corridor II
2. Pan-European Corridor IX
3. Baltic-Adriatic Transport Corridor

Hungarian Preferential Access and Free Trade Agreements

1. Hungary and the European Economic Area
2. European Union
   1. European Single Market
   2. EU Services Directive
   3. European Digital Single Market
   4. European Customs Union
   5. As a member of the European Union, Hungary is a beneficiary of the EU Free trade agreements with Algeria, Ivory Coast, South Africa, South Korea, India, Mexico, MERCOSUR, Chile, Egypt, Jordan, Lebanon, Ukraine, Moldova, Georgia etc. besides the Customs Union with Turkey
3. Central European Initiative (CEI)
4. Regional Cooperation Council (RCC)
5. Council of the Baltic Sea States (CBSS) (observer country)
6. Organization of the Black Sea Economic Cooperation (observer country)
7. Cooperation Council of Turkic Speaking States (Turkic Council) (observer country)

Trade Facilitation Programs

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS)
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC)
3. International Convention on the Harmonization of Frontier Controls of Goods (UNECE)
4. Uniform Rules concerning the Contract of International Carriage of Goods by Rail (CIM, CIT)
5. Convention concerning International Carriage by Rail (COTIF)
6. International Bureau of Containers and Intermodal Transport (BIC)
7. International Civil Aviation Organization (ICAO, Chicago Convention)
8. International Maritime Organization (IMO)
   1. International Convention for Safe Containers (CSC)
   2. Convention Relating to Temporary Admission (Istanbul Convention)
9. Customs Convention on Containers (CCC, UN)
10. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN)
11. International Road Transport Union (IRU)
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport
12. Convention on the Contract for the International Carriage of Goods by Road (CMR, UN)
13. Organization for Cooperation between Railways (OSJD)
14. International Chamber of Commerce (ICC)

Sample:

European Trade and Economic Organizations

1. European Union
   1. Group of States of the European Council Convention against Corruption (GRECO)
   2. European Central Bank
   3. European Investment Bank (EIB)
   4. European Bank for Reconstruction and Development
2. Economic Commission for Europe (UNECE)
3. Organization for Security and Cooperation in Europe (OSCE)

Global Organizations

1. Asia-Europe Meeting (ASEM)
2. Organization for Economic Cooperation and Development (OECD)
   1. OECD anti-corruption measures
3. International Monetary Fund (IMF)
4. World Bank (WB)
5. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. Commission on International Trade Law (UNCITRAL)
   4. World Intellectual Property Organization (WIPO)
6. World Trade Organization (WTO)
7. Community of Portuguese Speaking Countries (observer country)

Hungary (Europe)

1. Hungarian Capital: Budapest
2. Official Language: Hungarian
3. Hungarian Area: 93,028 square kilometres
4. Hungarian Population: 9.9 million people
5. Type of Government: Democratic Parliamentary Republic
6. Borders of Hungary: Slovakia, Ukraine, Romania, Serbia, Croatia, Slovenia and Austria

Religion in Hungary: Catholicism (Christianity)

Hungary belongs to the Western Civilization (European Economic Area)

Economy of Hungary.

1. Hungary is a moderate-high growing economy
2. Economic recession in 2008-2009
3. Hungarian GDP (nominal): 132,276 million dollars
4. The private sector generates about 80% of the Hungarian GDP
5. GDP per capita of Hungary: USD 13,200
6. Currency of Hungary: Hungarian Forint
7. Hungary is a member of the European Union since 2004
8. Hungary attracts ten million tourists every year
9. Hungarian automotive sector is increasingly important. Brands like Audi, Mercedes, GM-Opel or Suzuki have factories in Hungary
10. Hankook tire company is also in Hungary
11. Hungary is the main hub for mobile phones production in the European Union
12. Main Hungarian products: building materials, processed foods, textiles, chemical and pharmaceutical products, cars

Hungarian Foreign Trade

1. The main Hungarian Exports are machines, equipment, foods, raw materials
2. Top Hungarian Export Markets are Germany (28%), Italy, France, Austria, Romania, the United Kingdom, Slovakia, Poland
3. The main Hungarian Imports are machinery, raw materials, manufactured products
4. Top suppliers of Hungary: Germany (27%), China, Russia, Austria, Italy
5. As a member of the European Union, Hungary is a beneficiary of the EU Free trade agreements with Moldova, Ukraine, South Korea, India, Mexico, Georgia, Egypt, Jordan, Lebanon...

(c) EENI Global Business School (1995-2022)
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