Hungary

Political relations

The visit of the French President to Budapest in September 2007 established the basis for a Strategic Partnership, signed in May 2008 during a visit to Paris by the Hungarian Prime Minister, Ferenc Gyurcsány. It has not yet been renewed.

Economic relations

With almost 500 companies in the country, France is the fourth-largest foreign investor in Hungary, employing almost 45,000 people and generating turnover of over €9 billion. Five French companies are amongst the leading 25 foreign investors in Hungary: Sanofi, Auchan, Schneider Electric, Michelin and Valeo. France is primarily present in the sectors of services, retail and consumer goods, industry, construction, cars, health and tourism. Trade with Hungary was relatively unaffected by the pandemic and has shown excellent progress for many years (doubling in 17 years), growing from €3.8 billion in 2003 to €8.6 billion in 2021, making France Hungary’s 10th-largest trading partner. Our trade deficit with Hungary was €970 million in 2021.