exchanged views with his Hungarian counterpart Dr László Palkovics, Minister for Innovation and Technology, on the economic impact and measures in the context of the COVID-19 pandemic and Germany’s forthcoming EU Council Presidency during a video conference today.
Federal Minister Altmaier said: “It is important for us in the EU to act jointly and in a spirit of solidarity so that we can overcome the effects of the COVID-19 pandemic in Europe as soon as possible. Tackling the economic consequences of the COVID-19 pandemic will play a central role during Germany’s EU Council Presidency in the second half of this year. The aim is to strengthen Europe as a business location by further improving our competitiveness and innovative capacity, keeping markets open, creating a level playing field, and strengthening Europe’s digital and technological autonomy.”
Germany and Hungary maintain close economic relations. In 2019, the bilateral trade volume was just under €55.8 billion. Exports to Hungary amounted to €27 billion, while imports from Hungary totalled €28.8 billion. Hungary ranks fourteenth among Germany’s most important trading partners. Germany is Hungary’s number one trading partner and largest foreign investor.