Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó met with the Deputy Director-General of the World Trade Organization (WTO) on Wednesday and presented Hungary’s strategy of economic neutrality. According to Szijjártó’s Facebook post, Zhang Xiangchen praised the Hungarian strategy, calling it the right way forward.
‘Some of the most powerful players in world politics and world trade are consistently making decisions that risk triggering an economic cold war. This is in stark contrast to Hungary’s interests,’ Szijjártó pointed out.
The foreign minister added that Hungary’s economy is export-oriented, with Hungarian companies competitive at the international level and improving their export performance year by year. Therefore, it is in Hungary’s interest for global trade and the world economy to function smoothly and without barriers. In recent years Hungary has demonstrated how much it can benefit from civilised East–West cooperation. ‘Hungary has become a meeting point for Eastern and Western investment in Central Europe,’ he stated.
Szijjártó stressed that the biggest players in the German and Chinese automotive industries can cooperate seamlessly in Hungary. He added that the behaviour of some large countries is illogical, as the strategies of major companies, which influence the success of entire continental economies, cannot succeed without cross-continental cooperation.
‘We cannot set a more modest goal than to become one of the strongest strongholds of the European automotive industry in this new era’
Speaking about the strategy of economic neutrality, which he said is supported by Zhang Xiangchen, Szijjártó explained that it will lead to growth, create new jobs, and result in higher wages for the Hungarian people. He underlined that the Hungarian government is fully committed to its implementation.
On Tuesday Szijjártó participated in a BYD forum at the Hungarian Investment Promotion Agency (HIPA) headquarters, where he also highlighted the importance of the economic neutrality strategy. ‘The practical implementation of economic neutrality allows German and Chinese companies to cooperate freely in Hungary,’ he pointed out.
Szijjártó cited the example of the Chinese battery factory built in Debrecen, located next to a major German car factory. He also noted that one of the key factors in Mercedes’ investment in Kecskemét was the construction of the Chinese battery factory in Hungary, which supplies batteries to the German company.
The minister emphasized that BYD’s arrival in Hungary presents an unprecedented opportunity for the revolutionary transformation of the Hungarian supplier industry, providing momentum to shift from conventional to electric drive. ‘We cannot set a more modest goal than to become one of the strongest strongholds of the European automotive industry in this new era—to be a regional manufacturing hub, a European test centre, and a key player in the ecosystem surrounding electromobility…we offer the most competitive package in Europe,’ Szijjártó stressed.
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