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General Advantages Joining a community of stability, democracy, security and prosperity

www.gkm.hu www.itd.hu. Benefits of Recent EU Accession. General Advantages Joining a community of stability, democracy, security and prosperity

jasmine-khorvash
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General Advantages Joining a community of stability, democracy, security and prosperity

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  1. www.gkm.hu www.itd.hu Benefits of Recent EU Accession General Advantages • Joining a community of stability, democracy, security and prosperity • Growing internal market, increasing domestic demand (customs-free access to 450 million consumers) • Free movement of labour force, goods, services and capital

  2. www.gkm.hu www.itd.hu Benefits of Recent EU Accession Economic Effects I. • 0.8 % point increase in the GDP growth rate • 1.0 % point increase in the rate of industrial output growth due to higher export sales dynamics • Growing inflow of FDI due to increased business confidence • Regional hub role – gateway to Eastern Europe Source: GKI

  3. www.gkm.hu www.itd.hu Benefits of Recent EU Accession Economic Effects II. • State subsidy system in line with EU regulations • Stronger competition and drive for innovation • Easier access to financial institutions and funds within the enlarged European Union • Transport infrastructural investments may reach EUR 10-11 billion until 2010

  4. www.gkm.hu www.itd.hu Benefits of Recent EU Accession Economic Effects III. • Increasing EU funds for environment protection, education, R&D and supporting SMEs • Transparency of taxation and business accounting rules • No customs or quantitative limitations within the EU • Simplified procedure in business administration when exporting to EU member states • Free access to a market of 450 million consumers for non-European companies settled in Hungary

  5. www.gkm.hu www.itd.hu Benefits of Recent EU Accession Economic Effects IV. - Reduction of trade barriers • Mutual certification of goods • Single standard certification process for the entire region • Rigorous enforcement of competition policy and intellectual property rights • Harmonized VAT paymentsystem in the EU

  6. www.gkm.hu www.itd.hu Benefits of Recent EU Accession Outlook for EMU Membership - Date of possible entry: 2010 • Lower real interest rates boost investments • No exchange risk and conversion charges • A potential 0.6-0.9 % increase in the economic growth due to the adoption of the single currency • Meeting the Maastricht convergence criteria

  7. www.gkm.hu www.itd.hu Benefits of Recent EU Accession for Hungary for all EU members • Structural Funds: EUR 2,086 million • Economic Competitiveness OP • Human Resource Development OP • Environmental Protection and Infrastructure Development OP • Agricultural and Rural OP • Regional Development OP • Cohesion Funds: EUR 330 million • EU 6th R&D Frame Program: • EUR 17,500 million • IEE: Intelligent Energy for Europe: • EUR 265 million • Leonardo da Vinci II.: • EUR 1,150 million Source: EU

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