Hungarian Conservative

Hungary’s Honorary Consulate has opened in Monaco, allowing Hungarians to vote in the European Parliament elections on 9 June at a record of 147 foreign locations. Minister of Foreign Affairs and Trade Péter Szijjártó pointed out the significance of 9 June, calling it possibly the most crucial day in modern European history.

Hungarian Minister for National Economy Márton Nagy met with Philipp Haussmann, Deputy Chairman of the German Committee on Eastern European Economic Relations, and Barbara Zollmann, Executive Board Member of the German⁠–⁠Hungarian Chamber of Industry and Commerce on Tuesday at his office. The minister emphasized that Germany is Hungary’s most important economic partner: German companies employ more than 220,000 people in Hungary, and Germany accounts for 24 per cent of Hungary’s foreign trade, making it the country’s number one trading partner.

The recent signing of a military and defence industry cooperation agreement between Hungary and the United Arab Emirates introduces a new dimension to their bilateral relations. Hungary’s status as a NATO member, combined with the UAE’s robust partnership with the alliance, suggests that this agreement may lead to a more pronounced role for Hungary in security collaborations between NATO and the Gulf region.

According to a statement from the Ministry of Foreign Affairs and Trade, following over three hours of negotiations, an agreement was reached to include additional Hungarian railway developments on the list of infrastructure projects under China’s Belt and Road Initiative.

‘There is also a way to deal with the world’s largest economy, for the US Dollar (USD) is not going to decline anytime soon. Those who claim that the USD is in decline often argue that for centuries, reserve currencies have risen and fallen in tandem with their home economies. As the US’ share of the global economy diminishes, economists argue, so too will the USD and its global hegemony. A fascinating yet hardly conclusive argument since there has never been a dominant global reserve currency prior to the USD. Quite the contrary, the USD is the only currency ever to have played such a pivotal role in international commerce.’

During his visit to Kenya, Hungarian House Speaker László Kövér expressed his recognition of the progress that Kenya has made over the past decades and of the stabilising role that the country plays in the East African region.