Hungarian trade exhibition offers opportunities for Jordanian businesses

AMMAN — While trade volume between Jordan and Hungary has grown “steadily” over the past two years, there are still many untapped opportunities, Hungarian Ambassador to Jordan Csaba Czibere said on Monday.

Speaking at the opening of the second Products and Services Exhibitions of the Hungarian Trading House Plc., Czibere noted that a number of business deals had been concluded during the first exhibition, held two years ago, and that the volume of bilateral trade had grown since. 

He highlighted the importance of small- and medium-sized enterprises (SMEs) in the Hungarian economy, adding that these businesses are often established and run by families, a trend also observed in the Jordanian market.

Over the past few years, Jordan has witnessed closures of major markets due to regional instability, including the Syrian and Iraqi crises. This should encourage the Jordanian business community to look for nearby markets like Hungary in order to promote its services and products, the ambassador said. 

Some 10 Hungarian businesses are participating in the two-day exhibition, set to establish possible partnerships with Jordanian companies. 

For his part, Industry, Trade and Supply Ministry’s Secretary General Yousef Shamali said Jordanian traders should take advantage of the relaxed rules of origins that were given to Jordan to facilitate of its products’ entry in the European Union, noting that the agreement exposes Jordanian products to 28 markets in Europe, with some 500 million consumers.

He highlighted the opportunities offered by the exhibition to enhance cooperation, particularly in the fields of agriculture, food, water and information technology.   

Honourary Consul of Jordan to Hungary Zaid Naffa called on the two countries to work towards becoming trade hubs, citing a promising market for logistics businesses, which make up for around 30 per cent of any business’ body.

Zsanett Olah, managing director of the Hungarian Trading House Plc., commended Jordan’s economy stability in the region, adding that Jordan is capable of becoming a trade centre for the region. 

Olah, who heads the Hungarian trade delegation to the exhibition, said the exhibition allows direct personal contact for business people, which is a cornerstone for successful business communication.

The exhibition, held at the Grand Millennium Hotel, will be open on Tuesday from 10am until 5pm. 

Hungarian exports to Jordan in 2016 were valued at $45.4 million (nearly JD32 million), while Jordanian exports to Hungary reached around $200,000 (nearly JD142,000), according to figures of the Hungarian Central Statistical Office.