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Hungary: Refugee controls hit cross-border trade

2015-09-28 31 Dailymotion

Border restrictions due to the refugee crisis are having a damaging impact on European companies who rely on international trade.<br /><br /> Near Hungary’s frontiers the queues sometimes stretch between 20 and 40 kilometres. All vans are checked to make sure they’re not carrying migrants.<br /><br /> One of Europe’s largest haulage companies, Waberer’s International, has 3,500 lorries and an income of 550 million euros a year.<br /><br /> The firm has suffered a dent in its income of three to five percent because of the crisis, and fears that if the situation continues its profits could be wiped out.<br /><br /> “We cannot fulfil our obligations and for this we pay late payment surcharges, so if this situation carries on for a long period, then transport costs will probably increase,” said the company’s Chairman and CEO, György Wáberer. <br /><br /> It’s too early to assess the impact on tourism in Hungary. Before the crisis worsened over the summer, the sector grew by a healthy 17 percent during the first six months of the year.<br /><br /> M

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