According to Mikola, Hungary believes that disputes between member states and investors should be settled on a national level. He added that if an ISDS clause was included it would allow multinational companies with bigger budgets than the state budget of Hungary to influence governments and legal procedures.
Mikola said that Hungaryʼs views on the ISDS clause are shared by 6-7 other EU member states, but he did not name those states.
Hungary’s foreign minister Péter Szijjártó said earlier that a “good” free trade agreement between the European Union and the United States could boost Hungarian exports to America by 15-20% and create 20,000-30,000 jobs.
House speaker of the Hungarian Parliament László Kövér said that Hungary will continue to defend its national interests through negotiations of the proposed T-TIP.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
