Corporate

February 21, 2019

Adaptive Recognition in Elite Club of Top Exporters

Adaptive Recognition Hungary Inc. has been chosen to take part in the Outstanding Exporter Partnership Program (OEPP) of the Hungarian government, thus becoming one of the precious nine companies selected.

The Oustanding Exporter Partnership Program (OEPP) is an agreement between Hungary’s top exporters and the Hungarian government. The program is under the tutelage of the Ministry of Foreign Affairs and Trade.

“We established the Outstanding Exporter Partnership Program through the cooperation between the Hungarian Ministry of Foreign Affairs and Trade and nine Hungarian-owned enterprises that significantly contribute to exports. In the future, the program will contribute to the further increase of export performance,” Minister of Foreign Affairs and Trade Peter Szijjarto declared on Wednesday, January 31, at the ceremonious signing of the agreement in Budapest, Hungary.

The Benefits of Outstanding Exporter Partnership Program

The companies participating in the OEPP will have several benefits according to official sources. Firstly, they receive “accelerated” access to the instruments offered by the state export promotion institution system. Additionally, they will participate in export promotion programs, the development of state export promotion instruments, and negotiations on foreign trade policy. “Several forms of funding facilitate Hungarian foreign trade efforts. Last year, for the fifth year in a row, Eximbank loaned out over HUF 300 billion (EUR 945 million) in credit to enterprises that wished to increase their export capacities and competitiveness,” Mr. Szijjarto added.

These fundings will now become accessible to Adaptive Recognition and the promotion of its top-notch products and services. Furthermore, “The products manufactured by these companies could become brands that embody the country’s image,” Minister Szijjarto underlined.

This objective of the government falls in line with Adaptive Recognition’s top management, that decided recently to enhance the image of the firm operating since 2000. Together with Adaptive Recognition, the nine companies exceeded 120 billion forints (EUR 380 million) in exports in 2017.

In Hungary, exports exceed 80 percent of the gross domestic product (GDP). The country is 34th in the world in relation to its export activities. An overwhelming 79 percent of exports are destined for the European Union (EU), of which Hungary has been a Member State since 2004.

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