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Canada’s bilateral relations with Hungary, a NATO ally and member of the European Union, have a strong historical foundation. Canada resettled nearly 38,000 Hungarian refugees who fled the Soviet invasion of their country following the 1956 Hungarian Revolution. In 2010, Canada designated the arrival of these refugees as a National Historic Event, largely for the way in which it helped to shape Canadian immigration policy.
The Canada-European Union Comprehensive Economic and Trade Agreement provides further opportunities to grow the bilateral economic relationship between Canada and Hungary. In 2022, two-way merchandise trade between Canada and Hungary reached $964.8 million. Canadian merchandise exports to Hungary were $100.1 million and merchandise imports from Hungary were $864.7 million.
In 2022, Canadian direct investment abroad in Hungary was valued at $25 billion. That same year, foreign direct investment from Hungary in Canada was valued at $659 million.
Partnerships and organizations
To develop effective responses to today’s most pressing global challenges, Canada and Hungary work closely in multilateral fora, such as:
- European Union (EU)
- La Francophonie
- International Civil Aviation Organization (ICAO)
- International Criminal Court (ICC)
- North Atlantic Treaty Organization (NATO)
- Organization for Economic Co-operation and Development (OECD)
- Organization for Security and Co-operation in Europe (OSCE)
- The Pacific Alliance
- United Nations (UN)
- United Nations Educational, Scientific and Cultural Organization (UNESCO)
- World Trade Organization (WTO)
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