EU membership benefits Hungary's economy: minister

The European Union membership has benefited Hungary's economy and the government will continue to pursue a positive EU policy, said a Hungarian minister on Tuesday.

Hungary enjoyed a 70 percent growth in trade surplus with 15 EU members countries from 2004 to 2005, and the exports to new EU countries rose 40 percent, said Etele Barath, minister for EU affairs.

Hungary gained the membership of the 25-nation bloc on May 1, 2004, along with nine other countries.

Joining the EU secured for Hungary a complete integration with Europe, which was instrumental to Hungary's economy, the minister said.

Hungary is expected to receive financial aid from the EU from 2007 to 2013 for 85 percent of its major projects.

Finland, Portugal and Spain started opening labor market on Monday when five other EU members relaxed labor entry permission. Accordingly, Hungary has implemented the same policy.

He said Hungary is scheduled to work out by September a definitive policy in joining the euro zone, adding the country will cooperate closely with the EU in making national development plans.

Source: Xinhua