Márton Nagy: Hungary is a supporter of neutrality in trade policy

By: Trademagazin Date: 2024. 10. 10. 15:39

As a supporter of neutrality in trade policy, Hungary opposes the economic blockade of the world, since the way to development would be to ease the division – said the Minister of National Economy on Wednesday in Budapest, at an event held on the occasion of the European Trade Day.

According to Márton Nagy, the trade cold war is causing serious damage to the Hungarian economy, and division should not be allowed to do so.

The head of the ministry also called the EU protective tariff on the import of Chinese electric cars a mistaken measure, instead urging the cooperation of Eastern and Western capital at the event.

Domestically, efforts must be made to increase the share of Hungarian-owned store chains in retail and the proportion of Hungarian goods in the supply, reaching the level that is customary in Western countries for local products

he added.

The minister refused that some market players criticize the government’s measures, since the introduction of a price cap or mandatory campaigns was necessary to break inflation.

The task of commercial chains is to serve consumers efficiently, and fortunately more and more people understand that it is worth focusing on the competition, he said.