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 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. He welcomed openness on both sides to further developing Bavarian-Hungarian ties, saying that the trade and investments between the two countries „fundamentally determine” the performance of the Hungarian economy. „Hungary’s economic policy has given successful answers to the crises of past years, and its economy has returned to a path of growth as a result, hitting one record in investment, exports and employment after the other, and recovering our competitiveness.” The Bavarian companies investing in Hungary played a key 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% 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.