National Economy Minister in Talks with Austrian Counterpart on Green Transition
Hungarian Minister for National Economy, Márton Nagy, recently met with Martin Kocher, Federal Minister of Labor and Economy of Austria, in Brussels to discuss important economic matters in preparation for the Hungarian Presidency.
During the meeting, the two ministers focused on the challenges of the green transition and the electric car industry. Minister Nagy emphasized the longstanding economic ties between Austria and Hungary, noting that Austria has become Hungary’s second to third largest trading partner in recent years, with Austrian companies forming a significant investor community in Hungary.
Minister Nagy highlighted the importance of developing competitiveness and industry within the European Union, particularly in emerging sectors such as electric cars and artificial intelligence. He pointed out that while the global electric car market is growing rapidly, Europe risks falling behind China and the U.S. in this industry.
To address this issue, Minister Nagy called for EU-wide incentives to support the electric vehicle industry and ensure Europe remains competitive. He stressed the need for dedicated support for electric cars and urged his Austrian counterpart to join efforts in accelerating the green transition.
Ultimately, Minister Nagy emphasized the importance of Europe leading the way in electric car manufacturing to stay competitive against global competitors. The collaboration between Hungary and Austria in this critical sector is crucial for ensuring European competitiveness and success in the green transition.
The discussions between Minister Nagy and Minister Kocher underscore the commitment of both countries to advancing sustainable and innovative industries for the benefit of both nations and the European Union as a whole.
