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Brexit brings the world closer to Europe, and that’s good news for Hungary

Brexit would be a failure for the United Kingdom – the judicious results of international business and the financial experts on the subject are well known. Many in Europe are concerned that the island nation will turn its back on its largest export market and take steps towards other parts of the world, which most believe Britain will not prosper without the collective bargaining position of the European Union. Who is right will be decided over time.

Nevertheless, the success of the UK’s coronavirus vaccination program strongly indicates that the UK is doing well to advance the interests of its citizens without the help of Brussels.

Nor did the companies flee en masse – as many expected. Instead, many are solving logistics problems by setting up warehouses in Central European countries to facilitate access to the European Union market and maintaining their companies’ presence on the other side of the canal.

Britain is much more global than a European country. This, of course, is mainly due to colonial heritage. From North America to Australia and Oceania, from Africa to East Asia, and from the Middle East to South Asia, there are a few parts of the world where the UK was not present, or at least it had little influence. Culturally, the United Kingdom has much more in common with Canada, the United States and Australia than, for example, Belgium. This does not mean that Britain is not a European country. of course it is.

However, the island country has always been like family at the dinner table, with participants dreaming of shores further afield and wishing to be elsewhere. Well, Brexit made that moment a reality and Global Britain has arrived.

Photo: Daniel Surabji / AFP

Over time, the UK will realize its ambition to become an even more global trade hub. Bilateral trade agreements are actively negotiated around the world. Several of these will soon come true.

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Britain wants to be an attractive immigration destination not only for people from Europe but also for people from all over the world.

It was recently announced that they are considering issuing visas to those wishing to move from Hong Kong to the island nation, which is a perfect example of how the UK is building on its past to advance its future. Through deeper integration with the rest of the world, the UK will have better access to overseas markets. Basically, this means that foreign companies will also have better access to the UK market.

This is also an opportunity for Hungary. Companies entering the UK market are on the verge of Europe. Many of them want to set foot in Europe, too. The European Union remains a large and dynamic economy that could be attractive to these companies.

Hungary wants to be a prime target for investment in the European Union, given the country’s skilled workforce, favorable standards of living, stable macroeconomic prospects and easy access to many other EU markets.

Assuming that Hungary will be able to balance this particular situation in the coming decades, the increased interest in the other side of the English Channel could bring a number of benefits.