ICC Secretary General Guy Sebban last week met with government and business leaders during a visit to Hungary to exchange information about ICC and the Hungarian economy.

In a meeting with the Minister of Economy and Transport, Mr Sebban discussed ICC and its priorities, particularly multilateral trade, IP rights protection, corporate social responsibility, and the work of the ICC International Court of Arbitration. Mr Sebban also met with many ICC members and Commission Chairs of ICC Hungary, including the leaders of Microsoft Hungary, Oko-Pannon Public Benefit Company and Eurohand Commercial and Investment Company.

Gyorgy Retfalvy, CEO of the Hungarian Investment and Trade Development Agency, spoke extensively with Mr Sebban about Hungary’s recent economic growth, which has been driven mainly by foreign direct investment and subsidiaries of foreign companies. While stressing the open economy in Hungary, Mr Retfalvy explained that Hungarian SMEs would like to participate more in the economic growth.

Responding to questions from local media about his perception of the Hungarian economy and its role in the global economy, Mr Sebban remarked that he was happy to see a very open market in favour of privatization and liberalization. Mr Sebban also stressed that the benefits of globalization can take time. “It is essential to remain competitive. To achieve this, Hungary must continue its training and education programmes,” said Mr Sebban.

Mr Sebban was in Budapest at the invitation of ICC Hungary and of Laszlo Parragh, President of the Hungarian Chamber of Commerce and Industry, CEO of Parragh Trading and Holding Share Company and member of the ICC executive board.