Hungarian Minister for National Economy Márton Nagy paid an official visit to Tokyo, where he held high-level meetings with key Japanese political and economic figures. The discussions focused on enhancing bilateral economic, trade, and investment relations between the two countries, according to a statement from Hungary’s Ministry for National Economy (NGM).
Nagy held talks with Japanese Finance Minister Katsunobu Katō, Minister of Economy, Trade and Industry Yoji Muto, and former Foreign Minister Taro Kono, who currently chairs the Japan–Hungary Parliamentary Friendship Group. The meetings reaffirmed Japan’s importance as a strategic economic partner to Hungary.
The ministry emphasized that Japan continues to play a critical role in Hungary’s economy. Japan ranks as Hungary’s 24th most significant trading partner globally, and the third among Asian countries after China and South Korea. Between 2010 and 2024, Hungarian exports to Japan grew by 53 percent, illustrating the dynamic growth of bilateral ties.
Tourism between the countries has also seen steady growth. In 2024, nearly 36,000 Japanese tourists visited Hungary, spending a total of 92,000 nights in local accommodations—an increase of 19 per cent compared to the previous year. This trend underscores Hungary’s rising appeal as a global destination.
Hungary aims to position itself not just as a travel hotspot, but also as a regional hub for investment and innovation in East Asia’s view. More than 181 Japanese-owned companies currently operate in Hungary, employing around 27,000 people, particularly in the automotive and electronics sectors. These firms have played a major role in boosting the Hungarian economy.
The Hungarian government has signed strategic cooperation agreements with seven Japanese companies to date, including Magyar Suzuki Ltd. It continues to actively promote bilateral economic cooperation and the expansion of trade across various industries.
NGM reiterated Hungary’s long-term objective of serving as a bridge between East and West—a hub for capital, knowledge, and high-tech development. The country’s stable political and economic environment, competitive tax system, skilled workforce, and targeted state incentives all contribute to its attractiveness for Asian investors.
The meetings also looked ahead to joint goals for 2025, with both sides reaffirming their commitment to deepening ties across not only economic, but also political and tourism sectors. Minister Nagy extended an official invitation to Prime Minister Shigeru Ishiba to visit Budapest, highlighting the opportunity to further strengthen bilateral relations.
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