Organized by the Belgian Business Club in Hungary (Belgabiz), the event on June 14 saw a large turnout from the Belgian-Hungarian business community, emphasizing the strong bilateral ties and mutual respect shared between the two nations.
Belgabiz president Jim Bauters opened the evening and welcomed the guests before giving the floor to the special guest of the evening, State Secretary for Bilateral Relations Boglárka Illés of the Ministry of Foreign Affairs and Trade.
The state secretary praised Belgabiz for bringing together business leaders and government representatives from Belgium and Hungary, creating an environment to further strengthen and deepen relations and exchanges between the countries in a spirit of friendship and solidarity. She also mentioned the fruitful work of the Flemish-Hungarian Joint Committee
Illés cited statistics illustrating the volume of economic relations between the two countries: Belgium was Hungary’s 14th largest trading partner in 2023; in 2021, 285 Belgian companies were active in Hungary, employing around 9,000 people. In 2022, the volume of Belgian investment in Hungary reached EUR 2.225 billion, making Belgium the 15th most important investor in Hungary. She highlighted the importance of the Hungarian community living in Belgium, which numbers approximately 20,000 people.
Belgian Dinner 2024 saw a large turnout at the W Budapest.
She remarked that the trio presidency operates in a highly challenging international context. The upcoming Hungarian presidency is committed to ensuring a smooth transition to the next legislative cycle and building a close and constructive relationship with the new institutional actors in Belgium.
Illés assured the audience that one of the priorities of the Hungarian presidency is to strengthen the competitiveness of the EU. She outlined the commitment of the Hungarian Government to the European Union as a solid foundation for successful cooperation between the member states.
Belgian Ambassador Jeroen Vergeylen spoke next, emphasizing the importance of Hungary’s thriving Belgian business community and the strong ties between the two nations. He expressed gratitude for the support of the event’s organizers, board members, and sponsors.
He reflected on the historical ties between Belgium and Hungary and highlighted the rich tapestry of encounters and exchanges that have shaped their relationship over centuries. He mentioned the “Buda” bridge in Brussels commemorating Buda’s liberation from the Ottomans in the 17th century with the help of Walloon and Flemish soldiers, the refugees who found shelter in Belgium after the 1848 revolution, World War II and 1956, and the humanitarian and economic aid that the two countries provided each other in difficult times.
Vergeylen highlighted that Brussels and Budapest are both Art Nouveau capitals, a European style par excellence. Finally, he spoke of Sándor Lámfalussy, “the founding father of the Euro,” which celebrates its 25th anniversary this year, who completed his studies in Belgium, obtained Belgian citizenship, and later became the first president of the European Monetary Institute.
The ambassador emphasized that Belgium and Hungary are close partners in the European Union and allies in NATO, benefitting from the security, stability and prosperity the two organizations have provided to citizens and companies. It is in such an environment, based on the rule of law, that businesses such as Soudal, which has celebrated its 25th anniversary in Hungary, can thrive.
Vergeylen labeled competitiveness as the most critical factor in a challenging environment of international competition, high energy and commodity prices, and pressure on the labor market. Companies need stability, predictability, and a level playing field to sustain and develop their business and deliver on the green and digital transitions while always including the social dimension.
Belgian companies in Hungary are proving every day that success is achievable. The ambassador noted that the bilateral trade reached EUR 7 bln in 2023.
The guests were treated to a gourmet dinner with a Belgian touch, enjoying fine cuisine and the opportunity to network. The evening also featured a tombola with prizes donated by sponsors, adding an element of excitement and anticipation. The sponsors of the dinner included the Embassy of Belgium, K&H Group, S.I.C. Hungary, and Welpa Trans, along with Belga Sörmester, Reynaers Aluminium Kft., and Stardex.
This article was first published in the Budapest Business Journal print issue of June 28, 2024.
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