Chinese Investment and New Flight Routes Drive Growth for Enterprises
Hungary and China Strengthen Economic Cooperation
Hungary and China have reached an agreement to bolster economic cooperation, with the Chinese government pledging support for Hungarian companies looking to enter the Chinese market. Minister of Foreign Affairs and Trade Péter Szijjártó highlighted the success stories of Hungarian companies, such as a medical equipment manufacturer and Richter in the pharmaceutical industry.
Hungary’s dominant position in food exports to China was also emphasized, along with discussions to negotiate a regionalization agreement for continued exports of poultry and pork products from Hungary. The Minister’s meeting with Chinese Minister of Commerce Wang Wentao showcased the growing connections between the two nations, aiming to enhance trade and economic ties.
Reflecting on the achievements of the Hungarian-Chinese Joint Economic Committee, Szijjártó expressed contentment with the progress made over the past fifteen years. He advocated for closer cooperation and mutual respect between the European Union and China, criticizing the portrayal of China as a threat.
The announcement also highlighted China’s substantial investments in Hungary over the past year, further solidifying economic ties. A new air service connecting Budapest and Shenzhen will commence in June, providing direct flights and enhancing connectivity between the two countries.
In addition to the Shenzhen route, Budapest will offer direct flights to Xi’an this summer, expanding the city’s reach to Chinese markets. This move positions Budapest as a key hub for flights to China in Central Europe, surpassing pre-Covid levels and promoting further economic growth.
Minister Szijjártó concluded by expressing optimism for future investments from Chinese business leaders in Hungary, demonstrating the strong and growing partnership between the two nations.
