“The European Union should begin free trade negotiations with New Zealand and Australia in early autumn, and if possible should come to an agreement with them before the British leave the EU”, Minister of Foreign Affairs and Trade Péter Szijjártó told Hungarian news agency MTI following meetings with the two countries’ relative ministers.
Following the Ministerial Council Meeting of the Organisation for Economic Co-operation and Development (OECD) in Paris, Mr. Szijjártó met with Australian Minister for Trade, Tourism and Investment Steven Ciobo, New Zealand’s Minister of Trade Todd McClay and Canadian Minister of International Trade Francois-Philippe Champagne.
Following the meetings, Mr. Szijjártó told MTI: it would be a “nightmare” for Hungary if the European Union could not conclude these agreements within the next two years, while the British, who enjoy greater freedom, were to conclude agreements with members of the global economy with whom the EU does not have an agreement.
“That would be the worst possible scenario for the EU economy”, the Minister said. He confirmed that both Australia and New Zealand are ready to commence talks immediately, and accordingly Hungary is calling on the European Commission to request a mandate for the commencement of negotiations from the European Council as soon as possible.
Mr. Szijjártó and his Australian counterpart also discussed the possible storage of a portion of Australia’s strategic oil stocks in Hungary. “Hungary is in a good position with regard to storage capacities, as a result of which we are very close to reaching an agreement”, he stressed.
Mr. Szijjártó and New Zealand’s Minister of Trade agreed on the signing of treaties on social security and preventing double taxation.
With relation to his bilateral talks with the Canadian Minister of International Trade, the Hungarian Foreign Minister told reporters that interest on the part of Canadian investors has been on the increase since Hungary introduced the lowest levels of corporation and income tax in the Europe Union. There is major demand in Canada for Hungarian meat and food industry products in view of the fact that Hungary’s Constitution is the only one in Europe to guarantee the GMO-free status of the country’s agriculture. Mr. Szijjártó and his Canadian colleague agreed that Canada would launch the required export licence procedures, enabling Hungarian food industry exports to the North American country to begin in the near future.
Mr. Szijjártó also said that preparations are underway for a meeting of the Visegrád Group (V4) and Canada’s foreign trade ministers, and for a meeting of V4 and Australian foreign trade ministers in Budapest in the second half of 2017.
In the afternoon, the Hungarian Foreign Minister is scheduled to meet Secretary and Group General Council of PSA Peugeot Citroën Olivier Bourges.