On 12 November 2012 Brasília hosted the first meeting of the Hungarian-Brazilian Economic Joint Committee (HBEJC). The delegation headed by the co-chairman of HBEJC, Minister of State for Economic Regulation Kristóf Szatmáry, conducted negotiations with representatives of the Brazilian Government in the Ministry of Foreign Affairs.
Among the issues on the agenda the development of trade, investment stimulation, education, innovation and agricultural co-operation must be emphasized as they were highlighted by agreements and letters of intent. Business and investments forums were held in São Paolo and Rio de Janeiro and the visit was concluded by meeting with representatives of the local Hungarian communities in Nova Friburgo as the next stage of the Hungarian delegation’s tour to Brazil,
Brazil has been the most significant trade partner of Hungary in South-America. In the past couple of years bilateral trade has been constantly expanding, especially Hungarian exports to Brazil have been growing outstandingly, having increased by almost 55 percent in 2011 compared to the previous year. In the initial eight months of 2012 Hungarian exports (206.4 million USD) and imports (104.4 million USD) were up by 33 percent and 16 percent, respectively, in comparison to the corresponding period of the previous year. The Government also regards Brazil as a key investment destination.
At the HBEJC session several cooperation agreements were signed. The Ministry of Rural Development and the Brazilian Ministry of Agriculture, Livestock and Food Supply adopted a declaration of intent regarding cooperation in agriculture and the food industry, including cooperation within the fields of ecological farming, biodiversity, gene preservation, viticulture and viniculture, forestry, food safety, aquaculture and education.
In order to strengthen Hungarian-Brazilian bilateral economic relationships, the Hungarian Investment and Trade Agency concluded a cooperation agreement on stimulating investments and developing trade with its relevant partner organization, ApexBrasil. The agreement covers mutual assistance in organizing exhibitions, trade fairs, business delegations and other export-promoting programmes; organizing business forums; exchanging publications and business information as well as helping establish business partnerships.
Representatives of the Brazilian Federal Agency for Support and Evaluation of Graduate Education (Capes) and the Hungarian Rectors’ Conference concluded a framework memorandum on Hungary’s joining the Science without Borders programme.
The cooperation agreement concluded between the Brazilian Development Bank and the Hungarian Eximbank is expected to significantly contribute to boosting economic and financial relationships between the two countries. The framework agreement provides the opportunity for financing projects selected mutually by the two parties. The Brazilian Development Bank may spearhead efforts to promote Hungarian projects of Brazilian enterprises which could be co-financed via a new product of Eximbank, a special investment credit facility related to exports. On the other hand, in order to aid Hungarian enterprises enter Brazil, refinancing by the Brazilian Development Bank can underpin activities of the Hungarian Eximbank.
In São Paolo, the financial capital of Brazil, the Hungarian delegation was the guest of the city’s National Association of Manufacturers (FIESP) and its president, Mr. Paulo Skaf, an alumnus of the Santo Américo College established by Hungarians. For the outstanding role Mr. Paulo Skaf had been playing in promoting bilateral trade relationships, at the event he was awarded the Order of Merit of Hungary by Minister of State Kristóf Szatmáry which had been bestowed by the President of Hungary. At the event, the Budapest Chamber of Commerce and Industry and the FIESP concluded a cooperation agreement.
On 13 November, in the Santo Américo College of São Paolo, Minister of State Kristóf Szatmáry handed over a Hungarian national flag to the representative of the College as a present for the institution by the Speaker of the Hungarian Parliament László Kövér. In addition, two Honorary Foreign Economic Counselor titles have also been awarded. Representatives of the Hungarian community could taste Hungarian wines and enjoy contemporary paintings at a wine and art exhibition.
(Ministry for National Economy)
