Budapest, Tuesday, November 25, 2008

I am delighted to be with you here today as part of my State visit to Hungary.

I am impressed by what I have just seen in this Bombardier train-car factory, and the discussions I had with a few employees and managers seemed to be a good sign of things to come.

Canada is thrilled with the extent of business activities between our two countries over the past few years.

For example, Canadian exports to Hungary increased from $131 million in 2006 to $204 million in 2007.

And imports from Hungary have also increased significantly, rising from $272 million in 2006 to $321 million in 2007.

Moreover, Hungary is currently the eighth most important destination for Canadian foreign direct investment.

Canadian companies have set up shop in Hungary, as we can see here, sometimes with the help of Hungarian partners.

These are promising signs of the economic co‑operation between Canada and Hungary.

Canada and Hungary have similar objectives in terms of economic development.

We are both exporting countries that are part of larger commercial blocks: the North American free-trade zone for Canada, and the European Union for Hungary.

Hungary is therefore in a strategic place in central Europe and is an exceptional gateway to emerging markets.

Canada and Hungary are both looking to increase their opportunities for partnerships, to promote knowledge and to build new trans-Atlantic bridges between our two countries.

Last month, I told European Union ambassadors back home that Canada has an increasing “desire for Europe.”

Of course, as we have been so cruelly reminded by the ongoing financial crisis, the challenges we are facing require a broader—a much broader—redefinition of collaboration, which has become fundamental.

Television screens around the world are reporting the effects of this crisis on a daily basis, which tells us that we can no longer expect to each find our own solution.

This applies to other issues as well, like the balance between growth and ecology, and attacks to freedom and human dignity.

We must now take a global approach, a friendly one, I would say.

We are all in the same boat, and our final destination will depend on how well we all get along.

At a time when there are so many large economic blocks, Hungary and Canada must be committed to increasing the number of opportunities for their citizens to open themselves to the world.

And this relationship must be reciprocal.

I firmly believe that co-operation must be part of and practised within an ethical framework that is respectful of the people, of their history, of their culture and of the ecological integrity of their communities.

The more our respective interests reach beyond our borders and encompass the interests of the wider world, the more fulfilled we will be and the stronger we will make our joint commitment to the human family.

That is what I call responsible development.

It is also our responsibility to give our young people—who sometimes have difficulty seeing the big picture but who are bursting with great ideas, creativity and energy—we must give them the means of contributing to the growth of the economy, based on a new, global consciousness.

Particularly since youth are taking a leadership role in leading‑edge and innovative sectors, which will drive tomorrow’s economy.

That is what Canada and Hungary should now be focussing on, strong in the values we share and the ties that unite our people.

Thank you for welcoming me, and long live the friendship between Canada and Hungary!