Singapore supports Hungarian economic renewal

Thursday, November 14, 2013

The economic and political changes in Hungary are positive and forward looking said the President of Singapore Tony Tan Keng Jam who is in an official visit in Hungary. The president met Prime Minister Viktor Orbán in the Parliament in Budapest on Wednesday.

For Singapore's companies Hungary is a gateway to Europe. In order to strengthen economic cooperation between the two countries, it is neccessary to develop closer ties between the business communities of the two countries said the president.

Singapore's head of state thanked Hungary for supporting the free trade agreement negotiations between his country and the EU. The rapid ratification of the agreement is likely to assist developing closer ties between the two countries and gives further impetus to bilateral trade.

Regarding tourism, the president remarked that Hungary could be an attractive destination for Singapore and Asian tourists and he encouraged Hungarians to visit Singapore as well.

The two sides have also discussed sustainable development, environmental protection and water management related issues.

The president highlighted the fact that sustainable development and urbanization are posing major problems for his country; issues relating to waste management, transportation, and environmental degradation are causing significant difficulties. Despite all challenges, Singapore is determined to provide a livable environment to its citizens said the president.

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