General assembly of the Bern Union was held in Budapest

Providing support to the international ventures of small and medium size enterprises is crucial, a state secretary of the ministry of foreign affairs and trade said at the general assembly of the Bern Union held in Budapest on Tuesday.

Levente Magyar highlighted the Hungarian government’s subsidies provided to businesses during the coronavirus pandemic in the past one-and-a-half years, with special regard to assistance through the Hungarian EXIM bank.

Hungary has the 34th highest export ratio among countries of the world,

the official said, noting SME’s increasing contribution to that achievement.

BU chief Michael Ron said that export loan insurers were optimistic concerning world trade returning to pre-pandemic levels, adding that global FDI was showing signs of recovery.

BU, founded in 1934, has export loan agencies as members from 43 countries.