U.S. Companies launch new Hungary Business Council

USHBC_LaunchFebruary 16, New York, NY – At a ceremony with Hungary’s top diplomat, 11 American companies announced the formation of a new nonprofit organization aimed at promoting increased commercial relations between the United States and Hungary. The U.S.-Hungary Business Council, based in Washington, DC, will be one-stop platform for dialogue between American corporate executives and the top political leaders responsible for the U.S.-Hungary bilateral relationship.

The Council launched today by signing a Memorandum of Understanding with Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó. The agreement promises mutual cooperation between the Council and the Ministry to create an environment that fosters regular communication between the American private sector and the Government of Hungary.

Minister Szijjártó announced, “My Ministry looks forward to working with the new U.S.-Hungary Business Council to promote an increased understanding of business and economic practices and opportunities in both countries.”

“Any healthy relationship requires open communication and mutual understanding,” said the newly appointed President of the Council, Eric Stewart. “We are excited about the Government of Hungary’s willingness to engage with the American business community about both opportunities and challenges to increased trade and investment between our two countries.”

Membership in the Council will be open to any U.S.-based corporation interested in the bilateral relationship with Hungary. The founding Board Chair, Daniel Steen of Owens-Illinois, Inc. (O-I), stated “After 20 successful years in Hungary, O-I looks forward to this new opportunity to engage with our strategic partners there and develop our relationships for the future.”

The Council will lead an inaugural business mission to Budapest, Hungary for a series of high-level government meetings in June. At the time of its creation, the U.S.-Hungary Business Council comprises eleven founding companies: BorgWarner, Citi, Coca-Cola, Johnson & Johnson, Lilly, Met Life, O-I, Parsons, Pfizer, Philip Morris International, and Warburg Pincus.

For more information, please contact Luke Myers (lrmyers@wms-jen.com; 202.659.8201).

About the US-Hungary Business Council

The US-Hungary Business Council’s (USHBC) mission will be to enhance U.S.-Hungary trade and investment, advance the bilateral relationship, and educate the public about its importance. To achieve its mission, the Council will host roundtables, policy conferences, briefings, and other major events featuring senior U.S. and Hungarian officials, academics, and business leaders. The Council’s core function will be to facilitate meaningful exchanges for the U.S. business community with the U.S. Congress, the U.S. Administration, and the leaders of the Hungarian government and state.