Budapest, 19. April 2013 Press release

Lopatka: "Austrian companies in Hungary have our full support"

Legal security creates jobs and economic growth

Budapest, 19 April 2013 – Concrete issues in agriculture, the banking sector and the waste management business were the main items on the agenda of the meeting between Austrian State Secretary Reinhold Lopatka and Hungarian Deputy State Secretary Gergely Pröhle in Budapest today. "Both countries should be interested in creating growth and jobs in the region. We suggest that this objective should be pursued through training, education, competition and above all legal security.  Legal security is a fundamental condition for a positive investment climate. State Secretary Pröhle and I agree on that", Lopatka said.

More than 450 Austrian companies do business in Hungary and secure about 80,000 jobs in our neighbouring country. Exports to Hungary amount to nearly 4 billion euros and are proof of the dynamic bilateral economic relations. Hungary is an important place of business for Austrian companies. Various measures recently taken by the Hungarian Government have, however, caused significant difficulties for Austrian companies, banks and farmers. "The involvement of Austrian companies is based on a partnership approach and intended for the long term, not for speculation. I therefore regret blanket judgements of the kind made by Hungary", the State Secretary said.

The two State Secretaries agreed on pushing ahead with the Central European Initiative to boost cooperation in the region. Austria will take over the Presidency of the Initiative following Hungary in 2014.

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