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China To Finance Construction Of New Budapest-Belgrade Railroad

Tamás Székely 2014.12.17.

Hungary, Serbia, Macedonia and China have signed the agreement on the modernisation of the Budapest-Belgrade railroad on Wednesday, thanks to which the transit route will be constructed, which allows the fastest transportation of Chinese goods form Greek harbours to Europe, the sides announced at the Central Eastern Europe-China summit in Belgrade. The railroad will be constructed with the financial and technical support of China. The link is planned to be opened at the end of 2017 and the service will operate at maximum speed of 160kms per hour.

The accord on constructing a Belgrade-Budapest high-speed rail link represents a signal moment in cooperation between the EU and China, Hungary’s Prime Minister said after it was signed. The agreement has far-reaching significance because “we have managed to demonstrate the method and programmes through which China and the EU will be able to cooperate to serve mutual interests in the coming decades,” Viktor Orbán added. “In the past, Hungary’s location has mostly resulted in various armies passing through, and now we feel that history is taking a positive turn because goods will be passing through and a railway line will cross Hungary”, he told.

China’s Premier Li Keqiang said the rail link would contribute to higher living standards in both countries and enable fasterimplementation of China’s interests and those of central and eastern European countries. The European Union is China’s most important trading partner and the link will enable economic relations to further expand, he said. It has been also announced that the Bank of China will establish its regional centre in Budapest.

via and photo: Barna Burger –