"The diplomatic visits show the privileged role that the Chinese relationship plays in Hungary's foreign policy."Continue reading
Minister for National Economy Márton Nagy received the CEO and Deputy Chairman of the Export-Import Bank of China, Ren Shengjun, at his office on Monday.
According to the Ministry for National Economy’s statement, the parties reviewed the most important areas of Hungarian-Chinese economic relations and the status of the development of the Budapest-Belgrade railway line financed by the bank. During the meeting, the two sides discussed possible future joint projects:
in the field of transport infrastructure, the V0 and Budapest Airport railway lines, the development of the Hungarian-Serbian border crossing, and the possibilities of developing the oil pipeline to Serbia and an electric car charging network.
“The development of railways is particularly important for achieving net zero emission targets, as in the future the transport of electric cars will also have to comply with net zero emission requirements,” the communication said.
The ministry points out that Hungary has all the prerequisites to become a logistics hub for Chinese goods, as it has an excellent location, a well-developed infrastructure and a competitive investment environment. Chinese companies are already investing HUF 6,400 billion (EUR 16.3 billion) in Hungary, directly creating some 25,000 new jobs. Based on last year’s figures, China is Hungary’s ninth largest trading partner and the most important outside Europe.
Márton Nagy stressed that China is a key economic partner of Hungary, and cooperation in the financial sector needs to be further strengthened.
The largest Chinese banks are already present in Hungary, and there is a good chance that this circle will be further expanded, so that Hungary can become China’s priority regional partner in the financial field as well,
the minister added.
He noted that Hungary will continue to strengthen its role as an economic meeting point, so that Eastern and Western capital and high tech can be linked here, and thus, in order to develop financial relations, talks will remain regular in the future.
Via MTI, Featured image: Pixabay