The report projected that economic impact could manifest in about ten years.

The TTIP agreement will affect mainly public vehicle manufacturing, the chemicals and pharmaceuticals industries and medical equipment making, Mikola said.

Hungary expects exports to the US to grow by 29% in ten years from 2012, while imports would grow by 8.4% in the same period. Hungary’s economic output would grow by 0.2-0.3% from 2012 to 2022, and 20,000-30,000 jobs could be created if the agreement is signed. Hungary would negotiate for transparency and caution the US against a hasty completion of the pact.

Mikola said current “dissonance” in relations with the US will not affect the agreement and the US considers Hungary’s presence at talks important. Sensitive areas include measures to protect investments and Hungary’s GMO-free status, Mikola said.

Zsolt Németh, the head of the parliamentary committee and a delegate of the ruling Fidesz party, said the agreement could create a certain “NATO of the economy” and that areas important from the point of view of national interests must be negotiated effectively.

The opposition LMP party has called for a full-day parliamentary debate on the TTIP agreement.

Source www.hungarymatters.hu

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