As Asia, and South-East Asia in particular, is one of the fastest growing regions in the world, the EU holds an interest in building closer ties with this region, rather than imposing restrictions such as duties," Hungary's foreign minister said following his talks with Filipino Foreign Minister Enrique Manalo.
The European Commission’s recent introduction of new duties impacting key industries will cause huge damage to the European economy, Peter Szijjarto said, adding that the move will increase the risk of higher unemployment.
The introduction of further duties and free trade talks breaking down would cut Europe from global cooperation and eventually lead to "economic suicide" for Europe, he said. The upcoming Hungarian EU presidency will ensure that free trade talks should indeed focus on commerce rather than political issues, Peter Szijjarto stressed.
Should the EU insist on its earlier viewpoint, we will be doing business with ourselves,
he pointed out. The Hungarian government supports free trade, which offers many benefits especially to countries with an open economy such as Hungary, he said. "During its EU presidency, Hungary will focus on accelerating free trade talks between the EU and Asia, with special regard to the south-eastern region," Hungary's foreign minister added.
He recalled that these negotiations stalled in 2015, because the European Union wanted to combine non-trade-related issues with trade matters. Hungary, however, opposes this approach and instead supports the restarting of the free trade negotiations between the EU and the Philippines should be restarted, he highlighted. There will be several rounds of negotiations during the Hungary's rotating EU Presidency, he added.
Cover photo: Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto (left) and Filipino Foreign Minister Enrique Manalo during a press briefing after their bilateral talks in Makati, Metropolitan Manila, on June 13, 2024 (Photo: MTI/EPA/Rolex Dela Pena)
