Hungary-China mixed economic cttee discusses transport developments

Budapest, February 11 (MTI) – Railway developments and relaunching a direct flight between Hungary and China were among topics discussed at a meeting of the Chinese-Hungarian Mixed Economic Committee in Beijing on Tuesday, co-chair Peter Szijjarto told MTI.

The sides agreed on the importance of upgrading the Budapest-Belgrade rail line as well as building a ring line for freight trains around the Hungarian capital, Szijjarto said.

Farm products could boost Hungary’s exports to China, he said, noting the Chinese government had signalled it could issue permits for the import of Hungarian hogs, duck, goose and rabbit. Hungarian exports to China grew by 10 percent last year, Szijjarto noted. A Hungarian-Chinese trading house, which has recently started operation in Beijing, will also help further boost export, he said.

Hungary is the number one investment target for China in the Central and Eastern European region, the second largest source of imports and third largest trading partner, Szijjarto told MTI.

Hungarian-Chinese bilateral relations are financially stable, thanks to a currency exchange agreement worth 10 billion yuans, a 100-million-euro credit line agreement between their respective export-import banks and a 500-million-dollar Central European investment fund set up by the banks.

The committee is meeting on Monday and Tuesday, before Prime Minister Viktor Orban arrives in Beijing for an official visit on Wednesday.

Szijjarto held talks with deputy foreign minister Wang Chao and Li Jiping, deputy governor of the Chinese Development Bank.

Photo: MTI

Source: http://hungarymatters.hu/