Texas Border Business
AUSTIN, Texas – Governor Greg Abbott today held a meeting with the President of the Republic of Hungary Katalin Novák and other Hungarian leaders to discuss strengthening and expanding the international economic partnership between Texas and Hungary. Held at the Governor’s Mansion in Austin, this was President Novák’s first official visit to Texas and her first meeting with Governor Abbott.
During the meeting, Governor Abbott and President Novák highlighted shared interests in growing the advanced manufacturing, automotive, and aerospace industries in Texas and Hungary. Touting Texas’ booming economy, the Governor noted that the state itself has the eighth-largest economy in the world and leads the nation in economic development and job growth.
Governor Abbott and President Novák also explored Texas’ ability to use its robust oil and gas industry to support Hungary’s energy needs, emphasizing the importance of this specific economic relationship to bolster national security interests in both the United States and Hungary.
Additionally, the Governor and President Novák discussed ways Texas and Hungary can continue to collaborate in the aerospace industry. President Novák expressed her excitement for Hungary’s new $65 million contract with Axiom Space, specifically highlighting how this partnership with the Houston-based company will help send the second Hungarian astronaut to space.
The two leaders also exchanged gifts—a pair of Texas cowboy boots and a historic Herend Porcelain set—during the meeting.
Hungary is Texas’ fifth largest exporting partner. From January 2013 to December 2022, Hungarian companies made $13.9 million in capital investment through three projects in Texas, creating more than 70 jobs. In 2022, Texas exports to Hungary totaled $729 million and total trade totaled $1.3 billion.
