EU -US Trade Zone Could Boost Hungary’s GDP By 0.2-0.3%
- 18 Jul 2014 8:00 AM
If a free trade zone between the European Union and the United States materialises, Hungary’s GDP could be boosted by 0.2-0.3%, business daily Napi Gazdaság reports. Citing a foreign and trade ministry study, the paper said that the Transatlantic Trade and Investment Partnership (TTIP), if signed, could increase bilateral trade between Hungary and the United States by 15-20%, creating 20,000- 30,000 new jobs.
The most positive impact of the TTIP would be to increase the business opportunities in the US of western European companies that generate economic growth in Hungary, it said, adding that the most negative consequences of the TTIP, however, would be related to regulations serving to resolve disputes between companies and states and to food containing genetically modified organisms (GMOs).
Source www.hungarymatters.hu
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