The strategic agreement was signed by State Secretary for External Economic Relations and Foreign Affairs Péter Szijjártó and Sanofi CEO Christophe Gourlet. The State Secretary declared that beside its economic strategy of Opening Towards the East, Hungary aims to maintain a closer cooperation with large multinational companies.

In terms of income, the pharmaceutical company is ranked 17th in the country and is the 9th largest exporter. Sanofi has invested 200 billion HUF in Hungary since 1991.

According to the State Secretary, Hungary became a European success story due to the efforts of the Hungarian people. Hungary belongs to a small group of European countries that were able to reduce their state debt and its budget deficit was a record low last year, he said, adding that the country did not lose its competitiveness and the number of people in employment has increased by 160,000.

State Secretary Péter Szijjártó emphasized that the most important task for Hungary this year is to achieve growth that is already underpinned by first quarter GDP data that shows growth based on both quarterly and yearly comparison.

Regarding the role of Sanofi in Hungary, he pointed out that the company contributes to the Hungarian budget with HUF 20 billion in the form of taxes and other contribution. Furthermore, it invests 20 percent of its annual turnover, some HUF 10 billion-a-year in R&D and realizes a HUF 28 billion trade volume with its Hungarian suppliers, he said.

CEO Christophe Gourlet declared that this agreement is important for Sanofi, because the company aims to establish a stable and predictable business environment for the pharmaceutical industry, intensifying discussions with authorities that may support the company’s long-term presence in Hungary.

(Prime Minister’s Office)