TTIP brings few Benefits

This exclusive article refers to a scientific study commisioned by the Hungarian Government about the benefits of TTIP for the Hungarian Economy, drawing conclusions to comparable consequences in Germany, where only two-year-old studies are used by Ministries to justify the deal. The Hungarian study was declared “classified” after it asserted, that maximum GDP growth encouraged by the treaty would be only 0.2 %.

“The study claims that Hungary’s poultry, beef and pork abattoirs would be threatened by new competition from the USA; the same would also be true for maize and wine production. In these areas, says the study, American firms are cheaper. It also says European electronics companies would have to prepare for tougher times. This sector is a significant contributor to Hungary’s GDP. Hungary’s wheat producers on the other hand would, according to the study, be better placed than the American competition and could benefit from the TTIP deal.”

Also, the free trade treaty could have far reaching consequences regarding GM crops:

“The removal of tariffs could make Hungarian tinned maize and maize-based bio-ethanol unprofitable because – thanks to more lax regulations, lower energy prices and the licensing of gene technology – American companies can produce these products more effectively and at a lower cost. As Hungary is a major producer of seeds, the country is strongly opposed to the introduction of gene technology in the agriculture sector. Indeed a ban on the technology has just been written into the Hungarian constitution. Hungary is concerned that, under TTIP, corporations could challenge this clause.”

Correct!v, 16.11.2015: “TTIP brings few Benefits”