articleimg-1
Oct 09, 2019

FM: Economic ties between Brazil and Hungary hold great opportunities

Péter Szijjártó, Minister of Foreign Affairs and Trade, told a Hungarian-Brazilian business forum in São Paulo that the two governments approach the “great dilemmas of world politics” similarly, and so no open questions weigh on bilateral ties.

The Foreign Minister has said economic ties between Brazil and Hungary hold great opportunities.

Péter Szijjártó, Minister of Foreign Affairs and Trade, told a Hungarian-Brazilian business forum in São Paulo that the two governments approach the “great dilemmas of world politics” similarly, and so no open questions weigh on bilateral ties.

Minister Szijjártó said Brazil is Hungary’s second largest economic partner in South America, with trade reaching USD 430 million annually. Some 50 Hungarian companies operate in the country in high value-added sectors and the Minister noted that roughly one-third of Brazil’s GDP is generated in São Paulo.

According to MTI, the Minister said several agreements have been reached to facilitate food exports and the introduction of Hungarian water management technologies in Brazil. He welcomed that a Hungarian company could get a contract to supply all Brazilian McDonald’s restaurants with cheese products.

Minister Szijjártó added that Hungarian companies wishing to partake in Brazilian wastewater treatment projects have received HUF 165 million (EUR 495,000) in funding.

The Minister said Hungary has an interest in the fastest possible implementation of a free trade agreement between the European Union and South America’s Mercosur trading bloc, noting that the deal could provide new export opportunities to Hungarian businesses in the South American market.

Photo credit: Origo