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Mar 18, 2021

FM: Hungary aims for close cooperation with the UK

Péter 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.

 

The foreign minister said Hungary aims to maintain the closest possible cooperation with the United Kingdom after Brexit.

During a video posted on Facebook, Péter 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, Minister Szijjártó said, adding that Hungary would do everything it could to ensure that Hungarian companies get the most out of the agreement.

The minister added that the EU and the UK are also aiming to work out a new procedure that will make the new form of cooperation manageable. Countries that adapt to the new conditions the quickest can gain a competitive advantage. Hungary will therefore do all it can to ensure that its companies maintain and improve their positions on the UK market, he said.

As part of the government’s export protection scheme, Eximbank has opened a 590 million euro credit line to help finance bilateral business cooperation. Companies could also have access to HUF 15 billion (EUR 40.8m) in funding from the EU’s Brexit Adjustment Reserve, he said.

Photo credit: Facebook/Szijjártó Péter