New pilot financial instrument earmarked for Ukraine does not serve EU's real objectives

Yesterday, the European Parliament's Committee on International Trade (INTA) discussed the current state of export credits in the context of EU trade policy. In his address Fidesz MEP Erno Schaller-Baross underlined that export credits are a very effective tool to support companies' export activities, adding, however, that the new pilot financial instrument earmarked for Ukraine does not serve the EU's real objectives.

Budapest, 2022. május 20. Schaller-Baross Ernõ fideszes EP-képviselõ beszédet mond a Conservative Political Action Conference (CPAC) Hungary elnevezésû, kétnapos konzervatív politikai fórum második napján a Bálna Budapestben 2022. május 20-án. MTI/Illyés Tibor Fotó: Illyés Tibor

The Fidesz MEP has emphasized that export credits contribute significantly to the EU's policy objectives and help the development of member states' external relations. At the same time, in last week's SME package, the European Commission indicated that it would earmark a new amount of 300 million euros in additional funding for Ukraine under a pilot instrument within the framework of the revision of the Multiannual Financial Framework (MFF).

Mr Schaller-Baross stressed that the new amount of aid would not serve to develop the export capacity of member states, but would create disproportionate trade conditions.

The MEP added that the aid introduced during the review process is contrary to the principles of the European Union.

The EU's role is primarily to protect the interests of its member states but, even though Hungary has met all the essential conditions, it still doesn't have access to the EU funds that it's entitled to,

– Mr Schaller-Baross said, concluding his speech.

Cover photo: Fidesz MEP Erno Schaller-Baross (Photo: MTI/Tibor Illyes)