Stable ties between Hungary and Germany are key to the development of the Hungarian industry, the technology and industry minister said in Stuttgart on Sunday.
László Palkovics spoke at a memorial dinner in honor of Hungarian-born economist, Péter Horváth, professor emeritus of Stuttgart University who passed away in June, the ministry said.
Leaders of Horváth AG, Robert Bosch GmbH, Henkel AG, and Kearcher attended the event, as did the mayor of Stuttgart and representatives of German universities.
Palkovics, who also co-chairs the Hungary-Baden-Wuerttemberg economic committee, said that using development opportunities offered by strong ties in car manufacturing as well as research and development were especially important in the Hungarian economy.
Successful company leadership is “unimaginable” today without the tools that Dr. Horváth was one of the first to introduce, the minister emphasized.
Regarding the automotive industry, Palkovics recalled that the European Union’s Environment Council has decided that the phasing out of internal combustion engines from 2035 is unnecessary due to the introduction of synthetic fuels.
“This is a great achievement, as it will help to protect the internal combustion engines on which the Hungarian and German car industries are based. The annual output of the car industry is equivalent to 25 percent of GDP,” he added.
Featured photo by Márton Mónus/MTI