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We have strengthened Hungarian-Chinese cooperation

After the meeting, in a press statement delivered in the company of Li Keqiang, the Hungarian prime minister said that every European country would like to take part in China’s enormous development, also noting that “Within the Central European region Hungary’s starting positions are good, and our competitive positions in relation to China are particularly strong”. He added that, from among the countries of the Central European region, Hungary’s exports to China are the highest, and it also receives the region’s largest volume of Chinese investments.

The Prime Minister observed that last year Hungarian exports to China amounted to some HUF 600 billion, which is extremely important in a Hungarian context.

Photo: Károly Árvai

He noted that in the years ahead China will achieve a growth rate of between 6 and 7 per cent., which represents growth on an enormous scale. It also means, he said, that China will need enormous amounts of imports, and significant new production capacity will come into being. In consequence, Chinese businesses will carry out investments in a number of places around the world, Mr. Orbán explained.

From among the Hungarian-Chinese agreements now concluded, he mentioned that Hungary will be able to supply maize and honey to China. The Hungarian Eximbank will also have access to a credit line of USD 500 million, which it can introduce into the Hungarian economy. He mentioned a number of Hungarian towns and cities which will benefit from individual agreements: BorsodChem has received a project loan of USD 217 million, which is “good news for Kazincbarcika”; the possibility of a USD 20 million development by a Chinese electric bus manufacturer based in Komárom is likewise “good news for the people of Komárom”; and private agreements on a large thermal project and the sale of USD 40 million of textile products are good news for the people of Sárvár and Szeged respectively.

Photo: Károly Árvai

Summing up the bilateral talks held in Budapest, the Hungarian prime minister said that “On crucial points of implementation we’ve managed to advance previously agreed joint projects, and we’ve also started talks on cooperation between the People’s Republic of China and Hungary for the years ahead”. He emphasised the great mutual respect between Hungary and China.

Describing Hungary’s situation, he stressed that its economic regulatory and fiscal environment is competitive, “we build our policies on common sense rather than on ideology”, and the country’s geographical location is also favourable.

Photo: Károly Árvai

He said that “We agreed with the Prime Minister of the People’s Republic of China that there is enormous growth potential in this region. Developments can be carried out here which result in a growth rate of even more than 4 per cent”. He noted, however, that a number of projects should be implemented for which there is no longer sufficient capital either in the Hungarian economy or in the European Union. Therefore, for instance, the Budapest–Belgrade railway line is being financed with Chinese involvement, and he indicated that there are a number of other important projects that may be implemented with Chinese participation.

Photo: Károly Árvai

Mr. Orbán also pointed out that the China-Central and Eastern Europe summit has been the fourth or fifth largest international meeting held in Budapest since 1990, and this had presented major logistical challenges. He therefore particularly thanked the residents of the capital for their patience and understanding during the talks in Budapest between the sixteen Central and Eastern European prime ministers and the Prime Minister of China.

Summing up the above, he said that “these two days have been important ones for Hungary”.