Poland and Hungary have the potential to generate much higher mutual trade. Not only is trade between the two countries relatively low (€6bn annually), last year Polish exports to Hungary fell by 2% and Hungarian exports to Poland fell by 7%. How can the two countries improve these figures?

The Poland-Hungary Economic Forum in Warsaw on 22 March 2013 was devoted to this issue. Businesspeople from both markets and the heads of the countries’ trade and inward investment agencies took part in the meeting. According to Sławomir Majman, president of the Polish Information & Foreign Investment Agency, after the collapse of the Eastern Bloc and 20 years of greater closeness to countries of Western Europe, we are starting the process of re-establishing relationships with our closer neighbours, which will take some time.

Péter Faragó, deputy chairman of the Hungarian Investment & Trade Agency, pointed out that it is surprising that Hungary, a smaller country, is more involved in investments in Poland than the other way around. Hungarian investors praised their investments in Poland due to stable politics and legislation and easier access to bank loans than in Hungary. The positive business attitude of Poles active in Hungary was also noted. President of Hungary János Áder, President of Poland Bronisław Komorowski, and Poland’s Deputy Prime Minister and Minister of Economy Janusz Piechociński were special guests at the forum.

Traditionally, the representatives from our Law Firm took part in the Polish - Hungarian event.