Hungary wants to be a strategic partner of China in central Europe

15/02/2019

 

This was confirmed by Péter Szijjártó, Minister for Foreign Affairs and Trade

 

“It is in Hungary’s strategic interest to continue to be China’s leading economic, commercial and financial partner in the Central European region”. This was stated by Péter Szijjártó, Minister for Foreign Affairs and Trade of Hungary.

Szijjártó, who met with Chinese Foreign Minister Wang Yi in the margins of the general debate of the 73rd session of the UN General Assembly, underlined that over $ 4 billion in Chinese investment has arrived in the country. These investments contribute significantly to the development of the Hungarian economy, which is based on research and development and on a growing level of technology.

 

China is becoming an increasingly important market for Hungarian products

 

Szijjártó announced that the parties have agreed to start a new route for direct air transport: following the current Budapest-Beijing route, passengers and goods will be able to travel directly between Budapest and Shanghai from next summer.

Furthermore, China is becoming an increasingly important market for Hungarian agricultural products. Although poultry exports have been forced to stop due to international regulations and the bird flu epidemic, the Chinese authorities have officially recognized that Hungary is free of the bird flu virus.

The recovery in exports, therefore, is an opportunity worth hundreds of millions of dollars for the Hungarian poultry industry.

 

Collaborations look at different fronts of the market

 

But the collaboration between the two nations, as emphasized by Szijjártó, looks at different fronts. For example, the ITU Telecom World expo will once again be held in Hungary. The Hungarian Minister then underlined the importance of cooperation between the two countries in this field, announcing that Hungary is supporting the re-election of the Chinese General Secretary of the International Telecommunications Union.

In relation to joint development projects, Szijjártó talked about the modernization of the Budapest-Belgrade railway line. As explained, two consortia are still competing for the employment contract, and both are Chinese-Hungarian joint ventures.

 

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