Hungarian FM advocates East-West cooperation for economic, tech growth

The Star

13-05-2025

BUDAPEST, May 13 (Xinhua) -- Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto emphasized on Tuesday that fostering cooperation between East and West can bring long-term economic and technological benefits. He cautioned, however, that ideological and political interference continues to undermine such potential.
Speaking at separate events in Vacratot and Budapest, Szijjarto reaffirmed Hungary's commitment to a balanced and pragmatic approach to international engagement. "We have never considered East-West cooperation a threat but rather an opportunity from which we Hungarians can greatly benefit," he said.
Highlighting Hungary's "Eastern Opening" strategy launched over a decade ago, he said the country has since consistently supported investments from Asian countries, regardless of political or ideological differences.
The "Eastern Opening" strategy was officially introduced in 2011 by Prime Minister Viktor Orban's government in the wake of the 2008 global financial crisis. The policy aimed to diversify the country's economic and diplomatic ties by strengthening partnerships with Eastern countries, hence to reduce Hungary's dependence on Western markets.
"We never discriminated based on politics, ideology or nationality. We only asked companies to respect Hungarian laws," he said.
He noted that Hungary's automotive sector continues to thrive despite global disruptions and geopolitical shifts, serving as a cornerstone of the national economy. "There is no alternative to global cooperation in the automotive industry," he said.
Szijjarto described Hungary as a strategic hub for both Eastern and Western manufacturers in the electricity mobility sector. He projected that Hungary will soon have the capacity to produce over one million vehicles and more than two million engines annually, and will have the world's second-largest battery manufacturing capacity.
The minister also expressed concern over recent political and economic missteps in Europe. He argued that the combination of Western technology and Eastern energy resources once underpinned Europe's economic growth, but that model has been dismantled.
He said the lack of cooperation with the East has led to higher energy costs for European companies compared with their competitors in the United States or China.
Szijjarto also criticized ideological and political interference in economic affairs, warning: "Disrupting this cooperation for political reasons leads to serious consequences, and the biggest loser would be the European car industry."