TAIPEI (Taiwan News) — Liu Shih-chung (劉世忠), Taiwan's representative to Hungary, highlighted Taiwan-Hungary trade ties in a recent interview.
Speaking to the Hungarian English media Diplomacy & Trade monthly, Liu said the representative office in Hungary, established in 1990, was Taiwan's first official representative office in Central and Eastern Europe, CNA reported. In terms of bilateral economic and trade relations, Taiwan's investment in Hungary reached US$1.37 billion (NT$40 billion), and its products are largely electronic components and bicycles made by Foxconn, Giant, Sinbon, and Yageo.
The trade volume between the two countries has grown year by year, reaching a record high last year, he added.
Liu stressed that due to factors such as increasing production costs in China, the U.S.-China trade war, and the supply chain restructuring caused by the pandemic, Taiwan has attached great importance to the central and eastern European market in recent years. Hungary's high quality workforce and low corporate tax rate are quite attractive to Taiwanese businesses, he said, adding that there is endless potential in the future, he said.
The representative said Taiwan has donated to Hungarian charitable organizations to assist Ukrainian refugees, demonstrating Taiwanese contributions to humanitarian aid. Taiwan is an important partner of all countries in the world, and is able and willing to contribute to the global community, Lin said.
Diplomacy & Trade is an important monthly magazine in Hungary focusing on international and business affairs. Its main audience includes foreign envoys, professionals, and commentators based in Hungary.