Representatives of the Bavarian Christian Social Union in Budapest

Relations between Hungary and Bavaria are based on mutual respect, appreciation and friendship, and so both countries are ready to further develop the cooperation crucial for Hungary, the minister of foreign affairs and trade said on Monday.

Speaking after a meeting with representatives of Bavaria’s Christian Social Union (CSU), Péter Szijjártó told a joint press conference that such cooperation was especially valuable in times of crisis.

Szijjártó welcomed both sides’ openness to further developing Bavarian-Hungarian ties, saying that trade and investments between the two countries “fundamentally determine” the performance of the Hungarian economy.

“Hungary’s economic policy has successfully answered the crises of past years, and its economy has returned to a path of growth. As a result, we hit one record in investment, exports, and employment after the other, and we recovered our competitiveness.”

The Bavarian companies investing in Hungary played a vital role in that, he added.

Bavaria is Hungary’s primary trading partner in Germany, and the third most important source of investment among German states, with one quarter of the trade volume between Hungary and Germany linked to it, he said. Some 27 percent of German companies investing in Hungary are Bavarian, he added.

Hungary’s government has signed strategic cooperation agreements with several Bavarian companies, including Siemens, Audi and Knorr-Bremse, he said.

During its upcoming EU presidency, Hungary will focus on improving the bloc’s competitiveness, streamlining regulations and cutting back red tape, he said.

“We are happy to see that the talks with our Bavarian partners are founded on common sense, honesty and clarity,” he said.

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