Hungary wants to be Europe’s gateway to Asia
Hungary seeks to become an “economic gateway” between Europe and Asia, a catalyst for economic cooperation between East and West, National Bank of Hungary (NBH) governor Mihály Varga said at the AFCA Financial Summit Forum in Budapest on Monday.
Varga said the NBH aimed to play an active role in achieving that goal. The AFCA Financial Summit Forum was organised by the NBH, the Asian Financial Cooperation Association (AFCA) and the Hungarian Banking Association.
Varga highlighted Hungary’s strategic cooperation with China, extending to finance, economy and infrastructure, and pointed to Hungary’s issues of offshore and onshore renminbi bonds, financing for the upgrade of the Budapest-Belgrade rail line, a flagship project of the Belt and Road Initiative, and local cooperation between European automotive industry companies and Asian battery suppliers.
He noted that Hungary’s government had launched its Eastern Opening policy in 2010, while the country had joined the Belt and Road Initiative in 2015 and the Asian Infrastructure Investment Bank in 2017.
Varga urged closer cooperation between central banks to manage the risks of climate change and make the green transition. He added that maintaining disciplined monetary policy was indispensable for market stability. He suggested the financial sector could play a more active role in advancing future industry and making energy developments.
Read more Asia-related news on Daily News Hungary.
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Featured image: Canton, China, depositphotos.com
The NEW Silk Road.
Been in process driven through the Orban led Fidesz Governments “gofer” role to China, for the past (10) ten years/decade the EXPANSION of China’s investment and “ownership” of Hungary.
High Speed Rail development – Freight CAPACITY of Goods from Belgrade to Hungary – all in the plan of the New Silk Road – the meeting, growing, development and the expansion of OWNERSHIP of the East into the West – Europe.
Orban, his Fidesz Government another example of their SELLING, the SURRENDER of the Heart and Soul of Hungary.
Is this an act of SOVEREIGNTY ???