China, Hungary Establish Strategic Partnership in Lead-Up to Belt and Road Forum
Yicai Global
/SOURCE : Yicai
China, Hungary Establish Strategic Partnership in Lead-Up to Belt and Road Forum

(Yicai Global) May 13 -- Chinese President Xi Jinping met with Hungarian Prime Minister Viktor Orban today, state-owned news agency Xinhua reported, adding that both believe deepening ties between the countries would be mutually beneficial and agreed to begin a strategic partnership.

The pair will leverage annual meetings of the joint economy committee, high-level agricultural working group and joint committee on science and technology to expand trade and bilateral investment, improve trade structure and further deepen cooperation in economy, infrastructure development, transportation and logistics, telecommunications, energy, chemistry, car making, civil aviation, agriculture, food processing, e-commerce, science and technology, water conservancy and environmental protection.

Both countries plan to push ahead with construction of rail links between Serbia and Hungary and promote capacity cooperation. They will also encourage the flow of products and services and investments between each country and make it easier to do business. The two will work together to improve cooperation between small- to medium- sized enterprises and encourage companies to explore new opportunities.

China and Hungary are prepared to strengthen financial cooperation, promote settlements in domestic currencies in bilateral trades and investments and encourage financial institutions to fund and provide services for trade and investment cooperation. China also welcomed Hungary to become a member of the Asian Infrastructure Investment Bank.

Xi and Orban agreed to ramp up cooperation in the health sector and promote the application of traditional Chinese in Hungary and Central and Eastern Europe, including setting up an education and research center in Europe. The pair will continue to make exchanges and boost cooperation between the two nations, support the One Belt, One Road initiative and European investment plans, and support connectivity through the Asia-Europe Meeting and EU-China Connectivity platform.

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Keywords: BELT AND ROAD , Comprehensive Strategic Partnership , Hungary