US Ambassador Colleen Bell: US-Hungary economic ties strong

Budapest, January 20 (MTI) – Economic ties between Hungary and the United States are strong, but “can significantly improve if we remove impediments and disincentives to doing business,” the US ambassador said on Wednesday, addressing an event hosted by the American Chamber of Commerce (AmCham).

Among the impediments Colleen Bell mentioned corruption which she called a serious problem in the central and eastern European region.

The US will continue to cooperate with the Hungarian government, civil organisations and businesses to promote transparency, as well as to further strengthen economic relations, she told the AmCham lunch.

Since January last year when she took office as ambassador in Hungary, several US firms operating in Hungary have announced further investments in the country, she said, adding that she has also discussed possibilities, as well as challenges in Hungary with the leaders of US firms.

This year greater attention will be given to “the newest generation” of Hungarian entrepreneurs and the US will work with the Hungarian government and various organisations to promote their cooperation with US businesses, she said.

In connection with the free trade pact TTIP being negotiated between the US and the EU, the ambassador said that “there are stumbling blocks, but hurdles aside … these kinds of trade treaties have proven a huge economic development boon around the world.”