In a significant development, the Hungarian-American Chamber of Commerce has officially commenced its operations in Chicago, marking a new chapter in the economic relations between Hungary and the United States. The announcement took place at the Hungarian Consulate General in Chicago on Thursday, with Consul General Tamás Kovács expressing optimism about the chamber’s potential to further enhance the economic bonds between the two nations.

The establishment of the Hungarian-American Trade Chamber–Chicago was underscored as a pivotal moment in promoting Hungarian-American economic collaboration. During the event, it was emphasized that the expansion of the network of Hungarian economic attachés operating in foreign markets, coupled with the development of Hungary’s background institutions by the Ministry of Foreign Affairs and Trade, has played a role in positioning American companies as the third-largest capital investors in Hungary.

The event in Chicago not only highlighted the expansion of Hungarian diplomatic institutions but

also drew attention to the growing number of honorary consuls operating in the federal states under the supervision of the Consulate General.

The newly formed trade chamber was identified as an additional catalyst for strengthening Hungarian-American economic relations.

Endre Kovács-Sebestény, elected as the President of the non-profit Hungarian-American Chamber of Commerce–Chicago, outlined the chamber’s objectives. He expressed the chamber’s vision of creating a business environment conducive to providing effective support for economic players from both Hungary and the United States. This support encompasses financial assistance, assistance with company establishment, facilitation of corporate acquisitions, and the organization of events to foster relationship building.

Kovács-Sebestény highlighted the enduring attractiveness of the supportive business environment established in Hungary, serving as a key draw for American companies contemplating European expansion. Additionally, he noted the rapid growth in the number of export-ready Hungarian companies, including startups, which, with appropriate support, are well-positioned to compete in overseas markets.

Leading the chamber alongside Kovács-Sebestény are two vice presidents: Béla Szabados, a former world champion and multiple-time Olympic swimmer serving as the Vice President of a major American bank in the Midwest region, and Boldizsár Lassu, a member of the leadership team of an insurance company and a significant figure in Chicago’s Hungarian cultural scene. The diverse expertise within the chamber’s leadership reflects a commitment to fostering robust economic collaboration between Hungary and the United States. As the Hungarian-American Chamber of Commerce begins its operations in Chicago, it is poised to play a pivotal role in furthering economic ties and facilitating mutually beneficial opportunities for businesses on both sides of the Atlantic.

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Sources: Hungarian Conservative/MTI