In addition to processed products, the export of live animals will also revive soon.Continue reading
In the current uncertain global economic environment, Hungary can count on its eastern partners in the areas of financial stability and cybersecurity, said Mihály Varga, governor of Hungary’s central bank (MNB/Hungarian National Bank) after signing a cooperation agreement with Pan Gongsheng, President of the People’s Bank of China on Wednesday.
Mihály Varga emphasized that the signed agreement further strengthens cooperation between the two central banks and encourages knowledge sharing in important areas such as green finance, the fight against cyber fraud, and financial stability.
The Hungarian central bank governor explained that the rapidly changing customs policy plans of recent months have increased uncertainty in the global economy, that has a significant impact on global investor sentiment. This is why Hungary needs eastern partners it can rely on to strengthen stability, he added. He pointed out that
China remains one of Hungary’s most important trading partners, ranking second after Germany in terms of imports.
At the same time, most of the working capital coming from China to Europe arrives in Hungary, reaching EUR 3.1 billion last year, Mihály Varga emphasized.
The parties agreed that the relationship between the two countries represents a secure bond even in the current turbulent period. The cooperation agreement signed after the meeting further strengthens cooperation between the two institutions and encourages knowledge sharing.
Speaking about the signing of the agreement, Mihály Varga noted that in the future,
the two central banks will support each other in important areas such as green finance, digital central bank money, artificial intelligence and digitization, instant payment systems, the fight against cyber fraud, financial stability and financial awareness.
This was Mihály Varga’s first meeting with his Chinese counterpart since taking office. As part of his official visit, the Hungarian central bank governor is attending the Lujiazui Forum in Shanghai, organized by China’s central financial regulators.
Via MTI, Featured image: Wikipedia