Looking back on the achievements of the past five years it can be concluded that Hungary has succeeded in overcoming the effects of the 2008 crisis, Minister for National Economy Mihály Varga said at a presentation for the students of Gadjah Mada University, in Yogyakarta, Indonesia.

Speaking of the achievements of the Hungarian economy, the Minister pointed out that having achieved highly convincing economic growth and favourable external indicators the key question for Hungary today is how to maintain the pace of growth that is outstanding within the European Union. This has been the result, he said, of unconventional measures tailored to national interest through which economic expansion could be reignited. The regulatory system had to be adjusted to main objectives, state institutions had to be adapted in the right way and we had to create sufficient manouvering room within the European Union, he stressed.

In the speech held for several hundreds of university students Mihály Varga emphasised that the Hungarian Government is fully convinced that the development of education and vocational training have a direct impact on economic growth. During the transformation of the Hungarian vocational training system the Government has gained several experiences that it is glad to share with Indonesian experts.

As member of the high-profile delegation headed by PM Viktor Orbán, Mihály Varga held talks with his Indonesian counterpart, Bambang Brodjonegoro. The Hungarian Minister stated that Hungary is well prepared to help reach Indonesia’s economic development objectives. As he noted, relations between Hungary and Indonesia are not new: last year the two countries celebrated the 60th anniversary of the establishment of diplomatic relations. Mihály Varga added that the Hungarian Government pays special attention to Indonesia, as the region’s only G20 member.

The most promising fields the development of which may yield results even in the short-term are tied-aid cooperation projects. The two parties agreed that in addition to the existing, successful cooperation in water management other areas where partnerships should be bolstered include environmentally friendly and innovative technologies, knowledge-based industries, information and technology, infrastructure-development, pharmaceutical products, food processing and tourism.

The Indonesian Minister was especially interested in measures against the black economy, such as on-line cash registers and EKÁER. The opening of the Hungarian National Trading House in Jakarta last year may also help deepen relations, the Mihály Varga said.

(Ministry for National Economy)