Budapest: Péter Szijjártó, Minister of Foreign Affairs and Trade, announced that Hungary has become the leading destination for Chinese investment in Europe. Following a meeting with his Chinese counterpart, Wang Yi, in Beijing, Minister Szijjártó emphasized the significance of furthering bilateral cooperation between China and Hungary, highlighting that Hungary accounted for 44 percent of all Chinese investments in Europe last year.
According to About Hungary, Chinese companies are currently engaged in projects exceeding HUF 4,000 billion in Hungary. These ventures are expected to generate tens of thousands of jobs and contribute significantly to Hungary’s economic growth in the coming years. Minister Szijjártó also mentioned ongoing discussions to increase the number of weekly direct flights between China and Hungary, which currently stands at 21. The number of guest nights spent by Chinese tourists in Hungary has surpassed pre-pandemic levels, reflecting the robust tourism exchange between the two nations
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Furthermore, Minister Szijjártó announced the opening of another Confucius Institute at the University of Gyor, marking the sixth such institute in Hungary. In the agricultural sector, a work group has initiated discussions on a regionalisation agreement aimed at preventing a complete halt of poultry or pork exports in the event of localized outbreaks of avian influenza or African swine fever.
In terms of infrastructure, Minister Szijjártó highlighted the upgrade of the Budapest-Belgrade rail line in cooperation with Serbia and China. Additionally, Europe’s largest border crossing is set to be constructed in Roszke, on the Serbian border. He also advocated for trilateral cooperation as the optimal approach to constructing a crude pipeline between Hungary and Serbia.
Minister Szijjártó expressed concerns regarding the European Union’s punitive tariffs on Chinese electric vehicles, warning that such measures pose a threat to Europe’s economy and competitiveness. He stressed the importance of enhancing Euro
pean-Chinese cooperation through negotiations. Addressing the ongoing conflict in Ukraine, both parties agreed on the urgent need to avoid further escalation of the situation.
