Orbán said he hoped the pact would "open a new chapter" after its approval at the summit on Nov. 8. He added that the measures in the pact had already been discussed with the French, Italian and German governments.

"We need to produce more up-to-date things of higher quality more cheaply," he said.

Orbán added that Hungary's export-oriented economy needed to remain competitive to sell goods abroad, be that cars manufactured at the local bases of Audi, Mercedes, or BMW, or pharmaceuticals made by Gedeon Richter.

"If we are competitive, we live well," he said.