Subscribe to our social channels to get the latest news about Hungary!
Hungary aims for closest cooperation possible with UK, says foreign minister
Change language:
Hungary aims to maintain the closest possible cooperation with the United Kingdom after Brexit, Foreign Minister Péter Szijjártó said in a video on Facebook on Wednesday.
Szijjártó noted that a trade deal signed by the European Union and the UK, which has been observed since January, was expected to enter into force at the beginning of May.
Because of the free trade deal, the non-tariff barriers between the UK and the EU place extra costs and burdens on both British and EU-based businesses, Szijjártó said, adding that Hungary would do everything it could to ensure that Hungarian companies get the most out of the agreement.
The EU and the UK are also aiming to work out a new procedure that will make the new form of cooperation manageable, he said.
Countries that adapt to the new conditions the quickest can gain a competitive advantage, Szijjártó said. Hungary will therefore do all it can to ensure that its companies maintain and improve their positions on UK market, he added.
As part of the government’s national export protection scheme, Hungary’s Eximbank has opened a 590 million euro credit line to help finance Hungarian-British business cooperation. Companies are also expected to have access to 15 billion forints (EUR 40.8m) in EU funding from the bloc’s Brexit Adjustment Reserve, he said.