Hungary, China Sign Silk Road Economic Belt MOU

  • 8 Jun 2015 9:00 AM
Hungary, China Sign Silk Road Economic Belt MOU
Hungarian Foreign Minister Péter Szijjártó and his Chinese counterpart Wang Yi signed a memorandum of understanding in Budapest on the governments’ active support for the establishment of the Silk Road Economic Belt and the 21st Maritime Silk Road. The projects are being financed by the Silk Road Fund, which has already been capitalised with some 40 billion dollars from Beijing.

Szijjártó said the significance of Hungary’s bilateral cooperation with China was evidenced by the fact that it is the first country with whom China has signed an agreement on the projects’ implementation. Wang Yi said relations between Hungary and China were in their best period ever, thanks to the efforts of both countries.

He praised the Hungarian government’s policy of opening up to countries in the east, and said Hungary could play the role of bridgehead between China and the EU. Szijjártó said that a particularly important project, the upgrade of the rail line between Belgrade and Budapest, which will become part of a corridor for bringing Chinese goods to Europe, was proceeding on schedule.

Representatives from the Chinese, Serbian and Hungarian governments will soon meet in Budapest to agree on plans for the second half of the year. Chinese companies have so far invested more than 3.5 billion dollars in Hungary, and a number of them have set up regional centres in Hungary.

Source www.hungarymatters.hu - Visit Hungary Matters to sign-up for MTI’s twice-daily newsletter.

MTI photo: KKM/Burger Zsolt

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