India-Hungary video conference held on bilteral relations

H.E. Mr. Vikas Swarup, Secretary (West), Ministry of External Affairs of India and H.E. Mr. András Baranyi, Deputy State Secretary for Development of Eastern Relations in the Ministry of Foreign Affairs and Trade of Hungary held a video conference on 23 July 2020.

Both sides expressed satisfaction over the current state of bilateral relations, particularly noting the visits of External Affairs Minister of India Dr. S. Jaishankar to Hungary in August 2019 and of Minister of Foreign Affairs and Trade of Hungary, Mr. Péter Szijjártó to India in January 2020. The Indian side conveyed their thanks to the Government of Hungary for supporting India’s candidature for the non-permanent seat on the UN Security Council for 2021-22 and indicated their desire to closely work with the Government of Hungary during their term at the UNSC.

Both sides noted the steady growth in bilateral trade over the last few years and significant investment made by Indian companies in Hungary.

Indian companies have invested approx. US$2.8 bn in Hungary and employ approx. 10000 Hungarians. Three Indian companies have been granted the status of strategic partners by the Government of Hungary.

The strong presence of Indian companies in Hungary indicates their confidence in the Hungarian economy and the conducive business environment here. The Indian side invited Hungarian companies to also take advantage of the business and economic opportunities currently available in India, especially after the launching of several pathbreaking reform measures being implemented under Prime Minister Narendra Modi’s ‘Aatmanirbhar Bharat’ (Resilient India) programme.

The Indian side conveyed their compliments to the Government of Hungary for effectively handling the Coronavirus pandemic and conveyed appreciation for extending assistance to the Indian community in Hungary, especially the stranded Indians, who could not travel to India due to the lock down/ cancellation of flights. The Hungarian side was also briefed on the measures being taken by the Government of India to handle the Coronavirus pandemic in India including on strengthening of capacity for production of pharmaceuticals, PPEs, ventilators, etc. and also the assistance extended by India to numerous countries around the world in terms of medicines and medical equipment.

Both sides agreed to stay in close touch to further strengthen their cooperation in the wake of the pandemic. It was also agreed to intensify bilateral interactions and exchanges at various levels, including on the digital platform whenever required.

The Video conference between H.E. Mr. Vikas Swarup, Secretary (West) and H.E. Mr. Andras Baranyi, Deputy State Secretary was a part of regular dialogue and consultations that both India and Hungary regularly hold.