Earning PhD, he was employed by the Ministry of External Trade (then Ministry of Trade) between 1973 and 1990, where he worked as a rapporteur for economic relations with West Germany and East Germany, then commercial counselor at Vienna, finally Head of Department responsible for OECD affairs and relations.

[2] Fazakas entered government service in the cabinet of Prime Minister Gyula Horn, when he held the position of Secretary of State for Administrative Affairs in the Ministry of Industry and Trade between 25 September 1995 and 15 July 1996.

[2] Returning to Hungary, he functioned as Minister of Industry, Trade and Tourism from 29 October 1996 to 8 July 1998, until the 1998 parliamentary election.

After the electoral defeat of the Hungarian Socialist Party (MSZP), Fazakas returned to the private sector.

[5] His name appeared in the 6th place in the candidacy list of MSZP during the 2009 European Parliament election in Hungary, but the party gained only 4 seats, thus Fazakas lost his mandate.