Toast by President S R Nathan at the State Banquet hosted in honour of His Excellency Dr László Sólyom, President of the Republic of Hungary

Your Excellency President László Sólyom
Excellencies
Ladies and Gentlemen

        On behalf of the people of Singapore, it gives me great pleasure to welcome Your Excellency and members of your distinguished delegation to our country.  Your Excellency’s visit, the first State Visit by a President of Hungary, provides an excellent opportunity for us to further boost bilateral relations.

2       I made a private visit to your beautiful country in June 2005, and observed first-hand how Hungary has transformed its economy.  Hungary is now a trade and manufacturing centre for Central and Eastern Europe, a powerhouse in the heart of Europe.  I congratulate Hungary on the remarkable progress it has made in its political and economic transition over the last 20 years.

3       Singapore-Hungary relations have grown in recent years, and there is potential for our cooperation to grow stronger still.  I am heartened that our Prime Ministers have recently exchanged visits. We have built a strong foundation in R&D and education partnerships.  With the Master Collaboration Agreement (MCA) signed during Prime Minster Lee’s visit last October, there will be more opportunities for our researchers to exchange ideas and interact through joint scientific meetings, fellowships, and attachment programmes.  One such initiative is our joint call for proposals on research projects to be undertaken in both countries by Singapore and Hungary-based researchers.  I am confident that this initiative will further promote R&D collaboration between our countries.  I also hope that Hungarian students will take up our Singapore International Graduate Award, or SINGA, to do their PhD training here.  This will help enhance the educational and people-to-people ties between our countries.

4       There is also much scope for Singapore and Hungary to deepen cooperation in trade and investment.  The sizeable business delegation that accompanied our Prime Minister to Hungary last year, would I am sure have boosted the awareness of our businessmen of the trade and investment opportunities available in your country.  Singapore hopes to explore avenues of cooperation in other areas as well, such as sports training and e-government.

5       Singapore sits in the heart of Asia, while Hungary is at the core of Central and Eastern Europe.  We are each a gateway to our region.  China’s booming economy continues to surge ahead and has become an important engine of growth for the world.  The Indian economy too has immense potential.  Singapore is a springboard to this dynamic and rising Asia.  Likewise, Singapore sees Hungary as an important and dynamic partner in our engagement of the emergent economies of Europe.  Our commitment to strengthening Singapore-Hungary bilateral relations can no doubt be an impetus for greater linkages and cooperation between our two regions.

Excellencies
Ladies and Gentlemen

6       May I now invite you to join me in a toast to:

         *    the continued good health and success of His Excellency, President László Sólyom;
         *    peace and prosperity for the people of the Republic of Hungary; and
         *    closer relations between the Republic of Hungary and Singapore.