Hungary, Russia, Austria to ship Chinese goods to Europe together

Hungarian-owned CER Cargo Holding SE, Russian-owned RZDL Europe Kft and the Hungarian unit of Austria’s Rail Cargo Group, Rail Cargo Hungaria Zrt, signed a memorandum of understanding on setting up a joint venture to bring cargo between China and Europe in Budapest on Tuesday.

Administrative and operative preparations for the establishment of the JV are underway and it is expected to start operation in the first half of 2022. The JV will focus on bringing imports from China to Europe and exports to markets in Asia.

Speaking at the signing, Finance Minister Mihály Varga said a cargo hub being established in Záhony, on Hungary’s eastern border, is of

“strategic importance” for Europe as a bridge between countries in the East and the European Union.

The Záhony cargo hub, together with an upgrade of the rail line connecting Budapest and Belgrade, will make Hungary a “key player” in the flow of trade of goods between East and West, he added.

Read also: Cornerstone laying of Belgrade-Budapest railway section held in Serbia

Innovation and Technology Minister László Palkovics said railway developments will be prioritised in the coming years, adding that emissions reductions targets cannot be met without a well-functioning railway network. He said a “significant increase” in

trade of goods between Europe and Asia was expected in the coming years and pointed to changes to delivery networks during the pandemic as well as the “standout importance” of cargo trains.

Russian Deputy Minister of Transport Vladimir Tokarev acknowledged the working group’s efforts in the cooperation over the past two years and noted the importance of developing rail cargo between Europe and Asia.

Read alsoHigh-speed railway between Budapest and Warsaw to cut travel time from 12 to 5 hours

Source: MTI

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3 Comments

mariavontheresa says:

15/12/2021 at 19:01

Austria is siding with Hungary on one more issues. Austrians realize that Marxist policies are not appropriate for EU. Austria’s joining in with Hungary to increase Chinese exports is a slap in Brussels’s face..
Concerned : says:

15/12/2021 at 20:18

Observing over the past decade – (10) ten years, the growing relationship, that has, and continues to build – China & Hungary – Concerns me.
This article – the name China accompanied in a parnership with Hungary bears witness to my position of concern.
Finance Minister – Mihaly Varga – “a cargo hub being established in Zahony on Hungary’s eastern boarder, is of “strategic importance” for Europe as a bridge between countries in the East and European Union.”
My position previously expressed – in commentary – Budapest, Hungary – we are on the new and developing expanding – 21st Silk Road – the meeting of the West with the East.
The past decade the largest Foreign Investors into the “Broadsheet” property markets in Budapest, Hungary – the Chinese.
The past decade – the largest number of permanent residency and residence permit cards – approved – by the Hungarian Department of Immigration – the Chinese.
History – Never Lies.
China’s history in Foreign Relationships/Parnerships – Confirms – History Never Lies.
Jackal like in behaviour is the history of the Chinese – Dogma – that they “prey” on the weak and vulnurable countries, then when its time, they pounce – take over and establish there ownernship and control, that extends there expansion of world ownership.
Hungary – the past decade – in current time post February 2021 – the esculation of the Chinese/Hungarian – Relationship – has been Explosive.
The indebtedness of Hungary – Financial & Economic to China – of which, in all probability, post February 2020, increased lines of credit have been established in funds of China to support the Economy of Hungary, which to-day we know is in a position that clearly indicates trending downwards – under extreme andmounting pressure – that points to TOUGHER – times ahead – for the Citizens of Hungary.
There is an expression – that if you, in negotiations move ground and position – not ensuring you retain a postion of control, give the “other ” side – in this case – Hungary & China – the “inch” you give them, they will take a mile.”
China – has “eaten” deeply into Hungary, and continues to increase mileage of invested interest and ownership/control – within the core ingredients of Hungary.
In past days we read purchase by the present Government – in the past year of a massive cargo aircraft, that initially it was said – purchased to provide a quicker – means of transportation of the Chinese – “Lolly Water ” vaccine – that near on 2 million Hungarians received as a Vaccination.
This aircraft – Hungary to China – China to Hungary – NOW – being used for pharmaceuticals and “other” imported goods from China, into Hungary, that mentions for the car industry.
WHO – what was the Purchase arrangement of this massive Cargo aircraft ???
WHO – China or Hungary – and its Purchase – Funds used – what currency was Used and who’s signiture was on the Contract ???
“Give an Inch – take a Mile”.
The Global picture of China – post February 2020 – we continue to see un-certainty mounting questions on China – that it could be said – growing Trepardation – in relationships that China have currently under Foreign Trade & interests, caused by the Chinese style – its Dogma – want of control – want of incresed world/lands ownership – that appears GLOBALLY – countries are waking up and seeing China – as they should be seen and judged.
China/Hungary – will Fidesz – add to the “Promise” list – that if they are returned to Government, post April/May 2002 – National Elections – citizens may obtain FREE linguistical education in Mandarin or Russian ???
China/Hungary – Concerns me – for the Future of the Hungarian Sovereignty.
Disagreeable : says:

15/12/2021 at 20:49

China – is a Marxist Country – FULL Stop.
Mariavontheresa – please – look at History – and the Big Picture what China is.