Kulcsár greeted Bach and Hungarian IOC member Pál Schmitt, Honorary President of the MOB, among others at the event in Budapest.

International Fencing Federation President Alisher Usmanov and International Weightlifting head Tamás Aján were also present.

Bach had earlier met with Hungarian Prime Minister Viktor Orbán to discuss the IOC's 125-year anniversary and other important sporting issues.

According to the Hungarian Government, Bach and Orbán confirmed Budapest, which is hosting the World Fencing Championships until Tuesday (July 23), had "indisputably become one of the world’s most significant sports capitals".

The fencing event is the latest major sporting competition to be held in the Hungarian capital.

Budapest, whose campaign for the 2024 Olympic and Paralympics collapsed because of local opposition but who still hope to bid for the Games, staged last year's World Wrestling Championships and in May hosted the International Table Tennis Federation World Championships. 

Later this year the city on the banks of the Danube is due to stage to the first World Urban Games, a new multi-sport event launched by the Global Association of International Sports Federations. 

Budapest is also set to host matches at the new Puskás Aréna during next year's UEFA Euro 2020 and was awarded the 2023 International Association of Athletics Federations World Championships in December.

The city is in the running to host the 2025 or 2027 World Aquatics Championships.

Balázs Fürjes, Minister of State for the development of Budapest, was also in attendance at the meeting.