Bilateral relations between Hungary and Australia are in excellent shape, Hungarian Foreign Minister János Martonyi agreed with his Australian counterpart Kevin Rudd following their bilateral meeting on 7 June. On the side-lines of the ASEM meeting the two foreign ministers signed a Social Security Agreement between Hungary and Australia.

The agreement settles the social security relations, the legislative background and questions regarding the calculation of age pension benefits of eligible Hungarian and Australian citizens. The signing of the agreement is of great significance given the large number of people of Hungarian origin currently living in Australia with a history of employment in Hungary, as well as those Hungarians and Australians who have spent time working abroad in Australia or in Hungary respectively. These regulations shall settle the questions related to providing pension benefits, contribute to the further enhancement of Hungarian-Australian economic relations, and to the free flow of workforce and knowledge between the two countries. The agreement is expected to come into force during 2011. The full text of the agreement will be available on the homepage of the Ministry of National Resources subsequent to ratification.

János Martonyi and Kevin Rudd also agreed upon creating a forum for fostering Hungarian-Australian economic relations and investments. The two countries will also support each-other’s bids for a non-permanent seat on the UN Security Council.

(kormany.hu)