Hungary and China’s cooperation “is a real success story” that Hungary’s government is committed to pursuing, Péter Szijjártó, the minister of foreign affairs and trade, said in Budapest on Thursday, at an event marking China’s national holiday.
Szijjártó said a “strategic, broad and friendly system of ties” had been established between the two countries. He noted that Hungary had been the first country in Europe to join China’s Belt and Road Initiative, in 2015, further strengthening the outcome of the government’s Eastern Opening policy.
“Hungary has profited much from Chinese-Hungarian cooperation,” he said. China is Hungary’s biggest trading partner outside of Europe, and the country is the biggest target for Chinese investment in the region, he added.
Chinese companies have been the biggest foreign investors in Hungary for two of the past four years, and a Chinese company is undertaking the biggest greenfield investment in the country’s history, he said, referring to a more than 7 billion euros manufacturing facility battery maker CATL is building in Debrecen, in eastern Hungary.
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Cutting edge technology
Chinese investments that bring cutting edge technology to Hungary contribute “in a big way” to keeping the Hungarian economy on the growth path, he added.
He said voices pressing for the decoupling of the European and Chinese economies were “dangerous and harmful”, adding that Hungary believed a closer economic cooperation between Europe and China could help restore the continent’s competitiveness.
Szijjártó praised China’s efforts to advocate for peace and singled out the work of his Chinese counterpart, Wang Yi.
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3 Comments
Living the dream!
https://dailynewshungary.com/budapest-belgrade-railway-in-big-trouble-pm-orban-travels-to-bejing-to-find-a-solution/
Incurred DEBT, growing by Hungary, borrowed funding, to put into this rail project Belgrade – Hungary, the “New” Silk Road – the meeting of the East with the West, in what has become a NIGHTMARE for the Orban Government.
KEEP watching this space, as developments will be FASCINATING.
Hungary – will not be WINNERS.
China – history never Lies, and globally, whether its trade agreements or “other” they are just a bit of paper to China, of no worth, that if they decide to exit contractual arrangements obligations, they will just Walk Away, not caring who the “other ” Party country may be.
Hungary – you are and will get BURNT.
History never Lies.
Sorry but whatever the problem is, closer cooperation with and reliance on China is NEVER the answer.