Consultations on Transatlantic Trade and Investment Partnership under way
The Hungarian Ministry of Foreign Affairs and Trade and the head of the Hungarian Chamber of Commerce and Industry (MKIK) continued negotiations and consultations on the Transatlantic Trade and Investment Partnership (TTIP), Hungarian news agency MTI reported late yesterday.
“Hungary is open to negotiations but believes close attention must be paid to transparency and to the protection of Hungarian values, such as keeping locally produced food GMO-free,” state secretary István Mikola said yesterday at a press conference held after the talks.
According to MKIK chairman László Parragh, the agreement would generate competition, which would help consumers and strengthen the Hungarian economy. He cautioned that the impact would be big for Hungarian economic players, and would require preparation.
Some officials have been more blunt in expressing their concerns about the trade deal. In December, House Speaker László Kövér said that “the last nails for the coffin of Europe’s independence are being forged” with the pact, explaining that he believes there are risks to Europe in the free trade agreement.
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