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Conference on the economic partnership agreement between the EU and Japan held in Budapest
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“Rapid and comprehensive changes are going on within global politics and the global economy; old friendships are being broken and alliances of interests that previously seemed unlikely are coming into being. In such a turbulent period, it is in the interests of both the European Union and Hungary to forge alliances”, Minister of Foreign Affairs and Trade Péter Szijjártó said on Thursday in Budapest at a conference on the economic partnership agreement between the European Union and Japan.
According to the Minister, the free trade agreement is also important because in addition to being the world’s third largest economy, Japan is also one of the flagships of the new, innovative global economic era, adding that the treaty will enable the establishment of a bloc that provides one quarter of the world’s GDP.
Mr. Szijjártó also spoke about the fact that the European Union is facing security, political and economic challenges. “With the exit of Great Britain it will be the first time in the history of the European Union that the number of member states is decreasing, and the community’s economic performance will be reduced by 14 percent”, he noted.
“The European Union has been unable to conclude a free trade agreement that has been fully implemented since 2011”, the Minister recalled, warning that the continent will fall behind its competitors unless it can speed-up decision-making.