Secretary of
Commerce Donald Evans paid a one-day visit to Hungary today, where he met with
President Ferenc Mádl, Prime Minister Péter Medgyessy, Foreign Minister László Kovács, and
his
host, Minister of Economy and Transport István Csillag. András
Simonyi, Hungarian Ambassador to the U.S., accompanied the Secretary to
Budapest.
The primary purpose of Mr.
Evans' visit was to discuss the future of U.S. - Hungarian economic
relations as Hungary's upcoming membership in the EU is expected to
broaden U.S. economic cooperation with Hungary. The Secretary expressed
his support of Hungary's efforts to take part in the rebuilding of Iraq.
The Secretary gave a speech
at an event organized by American Chamber of Commerce for a large group of
businessmen, some of them representing American companies, foreign
investors in Hungary. "While the
American economy recovers, we cannot reach our full potential without a
robust European Union. In recent years, slow economic growth in Europe has
hurt both the U.S. and global economies," said Evans. "Its in our
mutual interest for Europe to have a strong and growing regional economy
with rising demand for goods and services."
President Ferenc Mádl told
Secretary Evans that Hungary continues to welcome foreign investors.
Secretary Evans said that Hungary provided an appropriate environment for
foreign investment. The two politicians agreed that bilateral relations
are based on partnership and are developing smoothly.
Foreign Minister László
Kovács assured Secretary Evans that Hungary's EU accession would by no
means have an adverse effect on U.S. - Hungarian relations.
As many as 136 Hungarian
companies have inquired about tenders for reconstruction operations in
Iraq, Minister of Economic Affairs and Transport István Csillag told
Secretary Evans during their meeting. These companies all have adequate
experience, skills and staying power to join projects in Iraq. Hungarian
companies are primarily interested in the reconstruction and management of
facilities formerly established in Iraq in co-operation with Hungarian
firms. To date, only one Hungarian construction firm is involved in
projects in Iraq.
Evans said that 2004 would
be a big year for Hungarian - U.S. trade. The U.S. Department of Commerce
and the Hungarian Ministry of Information Technology &
Telecommunications will organize an IT forum in the spring, the U.S. trade
development agency will provide assistance for feasibility studies in
Hungary, and the Overseas Private Investment Corporation is prepared to
make substantial investments in Hungary as well.
