Hungary, Austria Aim to Boost Economic Ties and Business Cooperation

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In a move to bolster ties and enhance cooperation, Hungarian Prime Minister Péter Magyar visited Vienna on Thursday for discussions with Austrian Chancellor Christian Stocker. This visit marked Magyar’s second official foreign engagement since assuming office. The Hungarian delegation, which included key ministers in charge of foreign affairs, economy, transport, and environmental policy, engaged in talks with Austrian leaders, business figures, and regional officials to explore avenues for resetting bilateral relations.

At a joint press conference, Magyar emphasized Hungary’s dedication to playing a more constructive role within the European Union, while also safeguarding its national interests. He highlighted the significance of collaboration within European institutions and regional alliances. Stocker, reflecting on Magyar’s election victory, noted its symbolic importance and suggested that enhanced cooperation between Austria and Hungary could amplify Central Europe’s influence in the EU.

The leaders outlined plans for a joint cabinet meeting scheduled for September in Gödöllő, Hungary, aiming to deepen political and economic coordination. Additionally, Magyar proposed a regional summit involving Visegrád Group countries, with potential invitations to neighboring nations like Austria, Croatia, Romania, and Slovenia. Key issues such as migration, energy policy, and regional security were at the forefront of their discussions, with both governments advocating for stronger border management cooperation and supporting the acceleration of EU expansion into the Western Balkans.

Focusing on the energy sector, Austria and Hungary called for the development of expanded cross-border infrastructure and more diverse supply networks. Discussions also covered major transport projects, including enhancements to rail links between Budapest and Vienna, as well as extending road connections towards Austria. Economic relations were addressed, particularly in light of Hungary’s special taxes impacting Austrian companies. Magyar acknowledged Hungary’s challenging budget situation and expressed the government’s aim to foster a more transparent and growth-oriented economic environment, encouraging higher-value foreign investments.

Environmental concerns also featured prominently, with discussions on asbestos-contaminated stone shipments from Austrian quarries into western Hungary. Magyar announced the establishment of a joint Austrian-Hungarian commission to investigate and oversee cleanup efforts related to this issue. Stocker expressed Austria’s commitment to addressing Hungary’s concerns and pledged full cooperation from Austrian authorities.

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