N

PM Orbán: Hungary and Germany to boost economic ties

Bilateral trade reached a record high last year, exceeding 70 billion euros, with a quarter of Hungarian exports arriving in Germany.

Prime Minister Viktor Orbán said economic cooperation provides a firm basis for German-Hungarian relations.

Following talks with German Chancellor Olaf Scholz in Berlin on Friday, the leaders agreed to further boost economic ties. Speaking to Hungarian public media, PM Orbán said the talks had focused on European affairs and German-Hungarian bilateral ties. Bilateral trade reached a record high last year, exceeding 70 billion euros, with a quarter of Hungarian exports arriving in Germany, he noted. German companies employ 250,000-300,000 Hungarians, primarily in the automotive industry, he said. Orbán said he and Scholz were in agreement that “a generation change” was taking place in the car industry. “It is very important that Hungary be involved in the German technological transformation,” he added. “Hungary has a special role in the operation of Germany’s industry, and we expect jobs, economic growth and tax revenues [from them], he said. Orbán said the EU’s competitiveness needed to be improved, and Hungary was ready to prepare a plan for this. Talks are under way in this regard with other member states, he added. The goal is that instead of isolation and reacting to global changes based on “the logic of fear”, Europe should expand economic ties and strengthen its network of relations globally, he said.