In parallel with his government and diplomatic career Prof. Balázs has been dealing with research and teaching since more than three decades. He is a ScD of the Hungarian Academy of Science. He was nominated Professor of the Corvinus University in 2000 and joined CEU as a full time Professor in 2005. Prof. Balázs served as a State Secretary for Industry and Trade (1992-1993) and a State Secretary for European Integration (2002-2003). He was Ambassador of Hungary in Denmark, Germany and at the EU in Brussels. He was also the Government Representative of Hungary in the European Convention. In 2004 he was nominated the first Hungarian Member of the European Commission responsible for regional policy. In 2009-2010 he was Foreign Minister of Hungary.