The impasse between Russia and Ukraine is a crucial issue for the Visegrád Four (V4), as both countries are the bloc’s key economic partners, Minister for National Economy Mihály Varga said at a press conference held following the meeting of V4 economy ministers in Budapest.
Besides Mihály Varga, Minister of Trade and Industry of the Czech Republic Jan Mládek, Deputy Prime Minister and the Minister of Economy of Poland Janusz Piechocinski and the Economy Minister of Slovakia Tomás Malatinsky also participated at the event.
The Hungarian Minister stressed they all agreed following an overview of potential economic consequences caused by the Russia-Ukraine crisis that V4 countries must adopt a common position within the EU.
Mihály Varga emphasised that V4 countries are aiming to protect the interests of their enterprises active on these markets. Accordingly, it is reasonable for the companies of V4 countries to cooperate on a professional level and through their respective chambers of commerce in order to address this issue as efficiently as possible. In addition, V4 ministers endorsed a proposal requesting the EU to provide assistance from its globalization fund to V4 enterprises which export to the Ukrainian market.
Mihály Varga pointed out that V4 cooperation is gaining importance and this partnership is becoming a key factor within the Euro-Atlantic region. As the Minister emphasised, V4 ministers agreed that high energy prices are gravely weakening the competitiveness of European industry; therefore European energy policy should place larger emphasis on the aspect of competitiveness. He stressed they also were also of the opinion that EU member states must continue to have the freedom of choice in finding the solution which most optimally help meet their energy demand.
As he explained, at the meeting the ministers also proposed that the V4 should negotiate with Germany on economic and industrial policy issues and options were discussed concerning the presence of V4 on third country markets. It was also mentioned that the brand awareness of V4 should be improved, as thus V4 enterprises and related products and services would become more easily recognizable.
Speaking about the Russian-Ukrainian conflict Deputy Prime Minister and the Minister of Economy of Poland Janusz Piechocinski remarked that as instability in Eastern Europe has been an ever graver problem, the interest and investment of V4 enterprises must be protected at these markets as well.
Economy Minister of Slovakia Tomás Malatinsky pointed out that Slovakia has been active in energy supply diversification. He added that as far as V4 cooperation is concerned, there are significant unused potentials in the field of innovation and therefore partnership shall be strengthened in that area.
Minister of Trade and Industry of the Czech Republic Jan Mládek emphasised that in case -- due to the current conflict -- the enterprises of V4 countries left the Russian market, they would act against their own interests as companies from other countries would soon replace them.
Responding to a question on the introduction of the euro, Mihály Varga said Hungary set no date for it and this issue should be addressed in the second half of this decade. Until then, he added, Hungary’s economic growth has to pick up and the Hungary must close the development gap with the rest of Europe. The Czech Minister, on the other hand, said that although the Czech Republic – for the time being – has no concrete date for the introduction of the euro, the period 2019-2021 may be a realistic one.
(Ministry for National Economy)
