“Hungarian-Brazilian economic relations are looking forward to significant development, in which an outstanding role is played by the fact that Brazil is the world’s largest, rapidly developing economy and Hungary and the countries of the V4 are the region with the fastest growing economy in the European Union”, the Ministry of Foreign Affairs and trade’s parliamentary State Secretary Levente Magyar said at a press conference following the 3rd session of the Hungarian-Brazilian Joint Economic Committee on Friday in Budapest.

“The expansion of bilateral economic relations is being given particular emphasis by the fact that Hungary and Brazil are celebrating the 90th anniversary of the establishment of diplomatic relations”, Mr. Magyar highlighted.

“We van, however, not be satisfied with the level of bilateral economic relations, and accordingly intensive efforts will be made during the upcoming months to develop business cooperation between the two countries’ private and public sectors”, he added.

Prior to the press conference, the State Secretary and the Brazilian Foreign Ministry’s Deputy Secretary General for international Cooperation, Trade Development and Cultural Affairs Santiago Irazabal Mourao signed the minutes of the meeting of the Joint Economic Committee.

“The Joint Committee was last convened in Brazil one and a half years ago, and at today’s meeting we agreed on a working schedule aimed at the intensive development of bilateral relations. The schedule places significant emphasis on the major expansion of cooperation between Hungarian and Brazilian enterprises, naturally under the supervision of the two countries’ governments.

Santiago Irazabal Mourao stressed: “There are some 100 thousand Hungarians living in Brazil, and this provides a favourable basis for the reinforcement and expansion of bilateral relations”.

The Brazilian diplomat pointed out: “Brazil has already climbed out of one of the most serious crises in it history, and Hungarian-Brazilian relations can look forward to a promising future. Relations between the two countries may achieve major growth within the fields of bilateral business relations, tourism and culture”.

“Brazil will be hosting the “World Water Forum” next year, and the president of Hungary has also been invited to attend the global event; this topic is of crucial importance to the world’s further development”, he highlighted.

(Cabinet Office of the Prime Minister/MTI)