Consultations on Transatlantic Trade and Investment Partnership under way

History

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.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.