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Nov 16, 2017

Hungary builds important relations with Latin America

“Observing the current rapid changes in world politics and the economy, it wouldn’t be an exaggeration to speak of the emergence of a new world order,” Hungary's foreign minister said

Hungary’s foreign minister has said that if an open economy such as Hungary’s wants to perform well, it must build effective ties with fast-developing countries in Latin America.

Péter Szijjártó, minister of Foreign Affairs and Trade, addressed Hungary’s ties with Latin America at the opening of the 3rd Latin American Forum in Budapest on Wednesday.

“Observing the current rapid changes in world politics and the economy, it wouldn’t be an exaggeration to speak of the emergence of a new world order,” Minister Szijjártó said.

The minister added that the changes are testing nation states and their readiness for integration. He said that to reach success a completely new political approach is needed, and it is now legitimate for every government to say that the national interest should take precedent.

According to MTI, the minister said it was clear that Hungarian foreign policy had to be radically transformed in a way that made it capable of recognizing and enforcing national economic interests while supporting Hungarian economic growth and development.

The government was right to focus on building relationships with rapidly evolving parts of the world, and its policy of opening to the south has brought many successes. The minister pointed out that four new foreign missions have been opened in Latin America and 40 honorary consuls are active in the region.

Minister Szijjártó said that bigger countries than Hungary with stronger economies were paying ever greater attention to Latin America, and this is why it was important for Hungary to act in time.

As part of Hungary’s policy of opening up to the south, in the first eight months of the year, exports to Latin America grew by 49 percent, so it makes sense to focus on ties with Latin America, he said.

The minister added that Hungarian companies are making great strides in Latin America in the areas of information technology, water management and the pharmaceuticals industry.