Hungarian Investment Promotion Agency

The event, which took place in Vigadó, welcomed speeches by Hungarian Foreign Affairs and Trade Minister Péter Szijjártó, Japanese Ambassador Kuni Sato, Suzuki Motor Corporation's former Chairman Osamu Suzuki and Róbert Ésik, President of HIPA.

Japanese companies play an important role in making the Hungarian economy become stronger. The fact that Hungary's GDP increased by 5.3 percent in the first quarter this year is partly attributable to them, enabling the country to boast with the highest growth rate in the European Union, as was highlighted in the speech of the Minister of Foreign Affairs and Trade. Péter Szijjártó stressed that the cooperation between Hungary and Japan, and thus between the Hungarian and Japanese people, which is built on mutual recognition and respect, has never been this solid and successful before.

Currently there are over 160 Japanese companies present in Hungary, giving work to tens of thousands of people. Japan is the largest Asian greenfield investor in Hungary, and also the largest Asian market for Hungarian food industry products. Japanese companies represent outstanding added value for the Hungarian economy, especially in those sectors that are the most intensively affected by the transformation of the so-called fourth industrial revolution.

It was in 1869 that Japan and the Austro-Hungarian Monarchy signed a friendship, commerce and navigation treaty. The island and Hungary have since then been maintaining excellent relationship in fields such as trade, business, science, culture and sport. Commemorating the 150th anniversary of the relationship between the two countries, this year Hungary is further promoting its classical music and music pedagogy in Japan, alongside the many exhibitions, innovation conferences and sports events it is organising on the island.