“Thirty years ago, a new Europe was born and Hungary regained its sovereignty, parallel to which the Hungarian organisation of the American Chamber of Commerce was also established 30 years ago, and since then the United States and American companies have stood by Hungary throughout”, Minister of Foreign Affairs and Trade Péter Szijjártó emphasised on Thursday in Budapest at AmCham Hungary’s 30-year anniversary gala event in the Parliament Building.
“It has been 28 years since Hungary brought to life the alliance of the Visegrád Group (V4), and 15 years since it joined the European Union; since then, Central Europe has been continuously gaining strength”, Mr. Szijjártó reminded those present. “The political, security and economic weight of Hungary and the V4 have gained in value in Europe, and the region has become the engine of growth of the European Union”, the Minister highlighted. “The United States is Hungary’s most important investor and export market outside the EU, and it is also thanks to American enterprises that Hungary set a new foreign trade record in 2018”, Mr. Szijjártó pointed out. “Hungary’s cooperation with the Unites States is absolutely outstanding, and has gained in strength to become a major allied relationship”, the Minister of Foreign Affairs and Trade declared. “Our relations have included both good and bad times, but today we Hungarians feel we are currently living through good times”, Mr. Szijjártó emphasised.
“The Hungarian government and the Trump administration represent an identical or very similar standpoint on a host of general political and international issues”, he highlighted. “Hungary is committed to NATO, and national security, the fight against terrorism, the family, and protecting Christian values and Christianity, which is the world’s most persecuted religion, are important to both countries”, Mr. Szijjártó pointed out. “As NATO allies, military personnel from both countries are serving together in various conflict-ridden parts of the world”, the Minister of Foreign Affairs and Trade said.
Moving on to economic issues, Mr. Szijjártó highlighted: “The Hungarian economy has been achieving a rate of growth of around 5 percent for years, which is much higher that the EU’s average growth rate, while parallel to the significant rate of growth sovereign debt has been falling for the past 9 years”. “The results of the Hungarian government’s investor-friendly and enterprise-supporting economic policy are also evident in relations between Hungary and the United States. During the development of its investor-friendly economic environment, the government asked for the opinion of U.S. corporations and applied AmCham’s recommendations”, he highlighted. “The Hungarian model developed and realised following 2010 concentrates on economic growth, increasing employment and increasing wages and salaries, while parallel to this it also places major emphasis on disciplined fiscal policy, reducing government debt, the stability of public finances, and reducing the country’s external vulnerability”, he indicated.
“There are over 1700 American enterprises operating in Hungary, providing jobs to some 105 thousand Hungarians; 14 out of the Hungarian government’s 81 strategic partners are American”, the Minister highlighted. Between 2014 and October 2019, over 1.1 billion dollars have been invested with the support of the Hungarian Investment Promotion Agency (HIPA) with relation to projects linked to 66 American investors, as a result of which over 12,400 new workplaces have been created”, Mr. Szijjártó pointed out. “The Hungarian economy is undergoing a dimensional transition, in which the American enterprises operating here are playing a major part”, the Minister highlighted.
President of AmCham Hungary Farkas Bársony indicated: “During it’s 30 years of operations, AmCham has built a bridge between the Hungarian government and American investors and enterprises”. “The American Chamber has supported the improvement of the Hungarian investment climate, the improvement of the country’s competitiveness and the simplification of the tax environment with its advice and recommendations”, he added.
(MTI)
