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China-CEE summit in Budapest – Opening ceremony – UPDATE
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Central and Eastern Europe has become the most competitive investment environment on the continent, Prime Minister Viktor Orbán told the opening ceremony of a forum attended by representatives of countries in the region and China in Budapest on Monday.
In his address, Orbán insisted that the 16 CEE countries attending the forum were the “engine” behind Europe’s economic growth. He noted, however, that “the star of the Orient is high” in global economy; with the Chinese economy soaring, Europe will need to involve the East “technically and financially” to develop further.
Europe must not turn inward or else it will lose on opportunities for development, especially “at a time when it faces historic challenges which it cannot meet unless it has powerful allies”.
Orbán insisted that the “16+1 formula” would not only serve the interests of its participants but the whole of Europe, adding that it was “a real win-win situation”.
The prime minister also announced that the public tender for the refurbishment of the Budapest-Belgrade railway line, financed from China, would be announced during the day. He referred to the project as a “flagship”, the first major scheme implemented in cooperation between China, an EU member state and an EU aspirant. He added that the renewed railway would ensure the fastest way for Chinese goods through central Europe to the West.
Orbán said financial cooperation was a top subject at the summit, and added that the Eximbanks of Hungary and China would sign an agreement on the second phase of the China-Central Europe Fund later in the day.
[…] supported by voices from CEE. Hungarian Prime Minister Viktor Orban, for instance, mentioned in his speech at the Budapest summit that “Central and Eastern Europe has become the most competitive […]