Péter Szijjártó, Hungary’s former foreign minister, has transitioned from politics to an executive role at BYD, a leading Chinese electric vehicle manufacturer. His departure from parliament follows a significant political shift in Hungary, where he served under Viktor Orbán for nearly 12 years. This move raises questions about the intertwining of politics and business, especially given Szijjártó’s previous influence in facilitating BYD’s entry into Hungary.
Szijjártó’s new position comes at a time when the EU is grappling with trade tensions with China, particularly concerning electric vehicles. His role will focus on external relations and developing new business lines, which could further integrate Chinese investments into Hungary’s economy. This could have implications for EU-China relations, especially as Hungary has been a proponent of Chinese investments in the region.
The establishment of BYD’s factory in Hungary, which Szijjártó championed, is seen as a strategic move to bypass EU tariffs on Chinese electric vehicles. This factory is expected to bolster Hungary’s position in the automotive sector, but it also highlights the delicate balance between attracting foreign investment and adhering to EU trade regulations.
As Szijjártó steps into this new role, the potential for increased Chinese influence in Hungary raises concerns about the long-term impacts on EU unity and economic policies. His actions may signal a shift in how Hungary navigates its relationship with both the EU and China, affecting future trade dynamics in the region.
Source: Euronews
