The ceremony was attended by His Holiness Bishop Lukian of Buda, Hungarian Parliament Deputy Speaker János Latorcai, Serb minority spokesperson at the Hungarian Parliament Ljubomir Aleksov, President of the Serb Self-Government in Hungary Vera Pejic Sutor, Serbian Ambassador to Hungary Rade Drobac, as well as representatives of the diplomatic corps and the Hungarian religious, cultural and public life.

The monument was erected at the former site of the Serbian Orthodox Cathedral in Buda, dedicated to St. Demetrius by Patriarch Arsenije Carnojevic. The baroque tower Serbian Church built in 1751 was one of the most beautiful edifices in Budapest. It was damaged in WWII and demolished in 1949, which caused inestimable damage to the Serbian community in Hungary and Hungarian culture in general.

In his speech, National Assembly Deputy Speaker Veroljub Arsic said that the monument verifies the unbreakable historic and spiritual ties between the two nations and is proof of the fact that Serbs are a European people, part of Christian Europe and that they belong in Europe. He was pleased to see that the Serbian people living abroad, in this neighbouring country, have their own community, church, elementary school and grammar-school and that Serbian children in these schools are taught in their mother tongue.