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Memorandum on setting up British-Hungarian Business Council signed in London

A memorandum on the establishment of the British-Hungarian Business Council was signed at the Hungarian embassy in London yesterday, Hungarian news agency MTI reported.

Foreign Secretary Boris Johnson and Minister of Foreign Affairs and Trade Péter Szijjártó. (Photo: MTI/KKM)

The establishment of the council is seen as a guarantee to Hungary that the UK’s exit from the EU will not create an obstacle to further British investments in Hungary, said Minister of Foreign Affairs and Trade Péter Szijjártó. 

The councilʼs ten founding members include Tesco, British Telecom, BP, GlaxoSmith Kline and Provident, the minister added. The 771 British-owned companies operating in Hungary employ almost 49,000 people, he noted.

Szijjarto said he had met with British Chancellor (chief finance minister) Phillip Hammond, Foreign Secretary Boris Johnson and David Davis, the so-called Brexit minister, in charge of the ministry responsible for overseeing the U.K.’s exit from the EU, during his visit to London.

He added that he had asked for the ministers’ support in defending the interests and rights of Hungarian nationals working in the U.K.

“The good news is that I didnʼt meet with any fundamental opposition; then again, it’s clear that the free movement of people was one of the most important motivations for the Brits’ referendum,” he said.