Canada & Hungary

Canada-Hungary bilateral relations

Canada and Hungary have enjoyed close relations since the waves of immigration starting in the late 19th century but Canada is best known in Hungary as a destination for those who left this country after the Revolution of 1956. Today, over 250,000 people living in Canada claim to be of Hungarian descent. They make up an important ethnic community, and contribute to Canada's national diversity.

Canada has encouraged the political transformations in Hungary from the outset, and was the first nation to ratify Hungary's NATO accession. There are several conventions and agreements in force between Hungary and Canada in the field of trade, film and video film co-production, extradition, finance, investment protection, legal proceedings, mutual legal assistance (MLAT), dual taxation and air transport. Canada has flourishing cultural and scientific relations with Hungary, and many performers visit Hungary in the framework of the annual Canadian Spring Festival. The effective bilateral co-operation in the field of culture is reflected by the 1999 return by Canada to Hungary of the Wedding Feast at Cana painted by Giorgio Vasari, as well as the history of Christ in front of Pilate, a piece from Mihály Munkácsy's Christ's Trilogy.

A good example of academic co-operation is the success of Canadian Studies over 25 years. There are five Canadian Studies Centres at Hungarian universities, and another seven higher education institutions have included courses on Canadian themes into their curricula. The Canadian community living in Hungary plays an active role in the life of Budapest and other towns. The Canadian Chamber of Commerce, established in 1993, is actively involved in the organisation of business-related and social events. It has also launched some new initiatives, such as the Canadian Winter Carnival and the Canadian - Hungarian Blood Donation Day.

Trade and Investment

Hungary and Canada trade relations are important and indicate signs of growth. Canadian exports to Hungary have been growing from CAD 209.7 million in 2004 to 220.4 million in 2005. Canadian exports to Hungary include machinery, electrical equipment and chemical products. Hungarian exports to Canada have also been growing from CAD 53 million in 2004 to CAD 70.8 million in 2005. Hungarian exports consist of electrical machinery, medical equipment and pharmaceutical products.

Because of its strategic position in central Europe, Hungary is a potential gateway to a much larger market area. A significant number of Canadian companies have established production operations in Hungary with Hungarian partners or on their own.

Last updated: September 2006