Economic ties between Brazil and Hungary hold great opportunities, Foreign Minister Péter Szijjártó told a Hungarian-Brazilian business forum in Sao Paulo on Tuesday.

The two governments approach the “great dilemmas of world politics” similarly, and so no open questions weigh on bilateral ties, Szijjártó said.

Brazil is Hungary’s second largest economic partner in South America,

Szijjártó said, with trade reaching 430 million dollars annually. Some 50 Hungarian companies operate in the country in high value-added sectors, he added. Szijjártó noted that roughly one-third of Brazil’s GDP is generated in Sao Paulo.

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

Hungarian companies wishing to partake in Brazilian wastewater treatment projects have received 165 million forints (EUR 495,000) in funding.

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, Szijjártó said, noting that the deal could provide new export opportunities to Hungarian businesses in the South American market.

He said the Hungarian government has set up a security fund for sectors that could face challenges, such as poultry and honey producers, emphasising that these sectors could count on the government’s assistance.

“The freer global trade is, the better it is for Hungary,” the minister said.

Meanwhile, he said Brazil devotes special attention to environmental protection and is counting on Hungary’s forestry know-how when it comes to the preservation of the Amazon region.

Following the business forum, Szijjártó held talks with the president of the Federation of Sao Paulo’s State Industrialists, Paulo Skaf.

As we wrote on April, Hungary is devoting greater attention to Brazil and will place its foreign policy and economic relations with the country on new foundations, Szijjártó said after talks with Brazilian congressman Eduardo Bolsonaro in Budapest. Read more here.

Source: mti

Leave a Reply

Your email address will not be published.