Hungary set on remaining flagship of China-Central Europe cooperation: minister

Hungary considers itself the flagship of cooperation between China and Central Europe and is determined to hold on that position, Hungarian Foreign Affairs and Trade Minister Peter Szijjarto told a news conference here on Monday.

Addressing the media after a meeting of the Hungarian-Chinese joint committee on economics, Szijjarto said China was Hungary's 10th most important trading partner with the exports to China exceeding 500 billion forints (1.81 billion U.S. dollars).

He added that two Chinese automobile industry suppliers were currently investing 30 million euros (33 million U.S. dollars) in Hungary which would create 600 new jobs.

Regarding the renovation of the Budapest-Belgrade rail line to accommodate high speed rail traffic, Szijjarto said not only was it an integral part of China's Belt and Road initiative but it would prove to be a boon to Central Europe and the Western Balkans as well.

Hungary has submitted the intergovernmental accord to the European Commission and will submit the bill that promulgates the accord on the rail project to parliament this week, Szijjarto said.

Chinese Deputy Commerce Minister Zhong Shan said it was a pride for both countries that Chinese investment in Hungary had exceeded three billion U.S. dollars in 2015.

China has always considered Hungary as one of its most important European strategic partners, he added.

Zhong said there was a huge potential for cooperation between the two countries. He considered it important to boost the level of trade and investment, noting he would like to see the number of Hungarian products on the Chinese market increase. Endit