Minister to visit Hungary’s 9th largest trading partner

Economic Development Minister Márton Nagy is travelling to China to meet government and economic players crucial for the Hungarian economy, the ministry said on Wednesday.

Nagy will meet representatives of the Chinese Ministry of Industry and Information Technology, China Development Bank, the Export-Import Bank of China and Huawei, the statement said.

China is Hungary’s 9th largest trading partner, with trade volume at USD 13 billion, the statement said.

“China is one of the most significant economies in the world which has seen extraordinary development in the past decades and has turned it into a technological superpower, and the role of the yuan and investments are increasingly significant. Chinese investments in Hungary are growing, with 3 percent of R + D + I coming from China,” Nagy said.

New investments are also key to protecting families, jobs and a steady wage increase, he said.