Hungary’s foreign ministry has signed a strategic cooperation agreement with the National Association of Hungarian Drug Producers (Magyosz). Addressing the signing ceremony, Foreign Minister Péter Szijjártó said the pharmaceutical industry played a key role in the “dimensional shift” of the Hungarian economy, noting that Hungary was transitioning from being a production-oriented economy to one more focused on innovation, research and development.
Hungary’s exports make up 85% of GDP, he said, pointing out that the volume of pharmaceutical exports came to a record 5.3 billion euros in 2018.
Hungary ranks 18th in global pharmaceutical exports, Szijjártó said, adding that drug exports rose by 6% in the first ten months of 2019.
He said exports looked set to hit another record high for 2019, noting that data from the first 11 months showed that exports were up an annual 4%.