Hungarian companies already operate trading houses in Baku, Astana and Moscow, and accordingly it would make sense for the state to buy stakes in these instead of operating a separate system, State Secretary for Foreign Affairs and External Economic Relations Péter Szijjártó said on Tuesday.

Buying ownership in these companies and thus expanding the state treasury may help boost exports effectively, the State Secretary added. Asked whether the cost would be in the range of billions of forints, he said this was unlikely.

The trade houses established to promote international commerce in the capitals of Azerbaijan, Kazakhstan and Russia already cooperate with the Government. The State Secretary also revealed that his own agenda included plans to possibly open trade houses in Beijing, Abu Dhabi and Riyadh by the end of 2013, and one in Africa in 2014.

(Prime Minister’s Office)