Hungary wields considerable influence in Central and Eastern Europe and is a middle power in international affairs. The foreign policy of Hungary is based on four basic commitments: to Atlantic co-operation, to European integration, to international development and to international law. The Hungarian economy is fairly open and relies strongly on international trade.
Hungary has been a member of the United Nations since December 1955 and member of European Union, the NATO, the OECD, the Visegrád Group, the WTO, the World Bank, the AIIB and the IMF. Hungary took on the presidency of the Council of the European Union for half a year in 2011 and the next will be in 2024. In 2015, Hungary was the fifth largest OECD Non-DAC donor of development aid in the world, which represents 0.13% of its Gross National Income, in this regard Hungary stands before Spain, Israel or Russia.