Hungary’s foreign minister: EU should declare China market economy

Beijing (MTI) – The European Union should declare China a market economy, the foreign and trade minister said in Ningbo, in eastern China.

This would further boost Hungary-China trade by broadening access by Hungarian companies to the Chinese market, he said.

“We know there is a strenuous debate over the issue in the EU, but the Hungarian government’s policy of firmly supporting China’s new status, promoting economic cooperation and removing barriers to EU trade with China is the right one,” he told MTI on the sidelines of a meeting of Chinese and central and eastern European trade ministers. Hungary would then have a good chance of ensuring yearly exports to China worth 2 billion US dollars.

He noted that Hungarian and Chinese companies signed five contracts on Thursday worth 10 million dollars in electronics, IT and light industry, and on wine and meat exports.

He told the meeting that Hungary has always supported the central and eastern European trading cooperation formula known as the “16+1” which “remains the cornerstone of Hungary’s foreign policy on Asia given the benefits to us”. China is looking at central and eastern Europe more closely and it is in Hungary’s interest boost the whole region’s attractiveness.

Bilateral infrastructure development projects are a priority, he said, noting the “flagship” upgrade of the Belgrade-Budapest rail line. Queried about legal issues raised by Brussels concerning public procurement aspects of the project, Szijjarto said these and been ironed out and preparations for the project are now under way. An agreement was been reached with China on setting up a joint venture for the project and the economy ministry is holding talks on the financial conditions and loans.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters