During the Budapest visit of The Honourable Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, a business roundtable discussion was organized by HEPA Hungarian Export Promotion Agency (HEPA). The event brought together Hungarian companies that have already established a successful presence in the Canadian market or are actively working to expand their footprint in Canada.
Among the participating companies was Master Good, one of Hungary’s leading food industry groups, operating across the entire poultry value chain from breeding and processing to the production of finished products. 77 Elektronika develops and manufactures proprietary medical diagnostic devices and reagents. Continest specializes in the development and production of innovative foldable containers for industrial, event and community applications. Kőröstej, one of Hungary’s leading dairy companies, produces a wide range of cheese and dairy products.
Kuube develops smart urban furniture and smart city solutions, including solar-powered smart benches and intelligent bus shelters. Chameleon Smart Home provides smart home and building automation solutions for both residential and commercial use. Jász-Plasztik is one of Hungary’s largest privately owned industrial groups, with activities spanning plastics manufacturing, automotive supply and electronics production. Furthermore, the company will take over the production of the world-famous Rubik’s Cube, returning the iconic puzzle to the global market as a Hungarian-made product for the first time in many years. Naturtex is a key player in Hungary’s home textile industry, developing and manufacturing duvets, pillows and other home textile products for international markets.
The primary objective of the roundtable was to provide participating companies with an opportunity to introduce themselves directly to the Minister, present their activities and share their experiences regarding the opportunities and challenges of the Canadian market.
Despite the geographical distance, Hungary and Canada enjoy a stable and continuously evolving economic partnership. Canada is Hungary’s third most important export market in North America, with bilateral trade consistently reaching between USD 650 and 700 million in recent years. Cooperation between the two countries has become increasingly diverse, extending beyond traditional sectors such as food production and healthcare to include a growing number of successful ventures in technology and innovation.
The development of bilateral economic relations is also supported by a strong institutional framework. HEPA Regional Office Canada, the agency’s export promotion services, the Enterprise Europe Network and Hungary’s network of foreign trade attachés all contribute to helping Hungarian companies enter the Canadian market with targeted and effective support.
The timing of the event was particularly significant, as just two days later the direct Budapest-Toronto flight resumed operations. The relaunch is the result of several years of dedicated professional work by HEPA Regional Office Canada and the Consulate General of Hungary in Toronto. Beyond its symbolic importance, the direct air connection is expected to further strengthen economic ties by facilitating easier communication and business travel between companies and stakeholders in both countries.
The seventh edition of HungaroFest, the largest Hungarian cultural event in Canada, also took place in recent days. The festival provides an excellent opportunity for Canadian audiences to discover Hungarian traditions, values and gastronomy, thereby playing an important role in strengthening Hungary’s international image. This type of cultural engagement is also highly relevant from an economic perspective, as a positive perception of Hungary and stronger people-to-people connections can help facilitate market entry and business development for Hungarian companies in Canada. In this regard, the approximately 350,000-strong Hungarian diaspora in Canada plays an important role through its active community presence and ongoing contribution to strengthening ties between the two countries.
