Hungary Aims for Close Ties With UK

Hungary aims to maintain the closest possible cooperation with the United Kingdom after Brexit, Foreign Minister Péter Szijjártó said in a video on Facebook.

Szijjártó noted that a trade deal signed by the European Union and the UK, which has been observed since January, was expected to enter into force at the beginning of May. Because of the free trade deal, the non-tariff barriers between the UK and the EU place extra costs and burdens on both British and EU-based businesses, Szijjártó said, adding that Hungary would do everything it could to ensure that Hungarian companies get the most out of the agreement. The EU and the UK are also aiming to work out a new procedure that will make the new form of cooperation manageable, he said. Countries that adapt to the new conditions the quickest can gain a competitive advantage, Szijjártó said. Hungary will therefore do all it can to ensure that its companies maintain and improve their positions on the UK market, he added. As part of the government’s export protection scheme, Eximbank has opened a 590 million euro credit line to help finance bilateral business cooperation. Companies could also have access to 15 billion forints (EUR 40.8m) in funding from the EU’s Brexit Adjustment Reserve, he said.


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