Schengen Disintegration “Threat To Hungary’s Foreign Trade”

  • 25 Sep 2015 9:00 AM
Schengen Disintegration “Threat To Hungary’s Foreign Trade”
If the Schengen system breaks down due to the migration crisis Hungarian companies could suffer, the foreign minister told a business conference. Péter Szijjártó said temporary border closures are causing major problems due to an increase in shipping times for companies employing just-intime manufacturing. If the Schengen system breaks down completely, lorries will have to queue at borders and multinational companies doing business in Hungary will experience problems, he added.

The minister said he was disappointed by the outcome of Wednesday’s emergency summit in Brussels. The EU made no progress in securing its external borders, he added.

The European Commission should have clearly defined the type of help that is needed from each member state in order to help the bloc to protect Greece’s borders, he said, adding that the migration wave was here to stay for many more years.

He noted that people living on humanitarian aid number 8 million people in Iraq, 12 million in Syria, 2 million in Turkey and over 12 million people in Sub-Saharan Africa. While Europe is trying to manage the migrant crisis, economic challenges are left unanswered, denting its global competitiveness, he said.

The minister said Hungary has to work hard on maintaining export volumes to China and the Arab world. Hungary must also fix the mediagenerated view that it is anti-Islam, he added.

Szijjártó said the Hungarian National Trading House will open a total of 22 offices in the Carpathian Basin and expand to Japan, South Korea, Argentina and Chicago, Illinois to maintain Hungary’s export growth.

He said Hungary’s Eximbank will lend a total of 21 billion euros to competitive companies and sectors in 94 countries.

Source www.hungarymatters.hu - Visit Hungary Matters to sign-up for MTI’s twice-daily newsletter.

MTI photo: Balogh Zoltán

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