The parties attending the plenary session of the Hungarian-Chinese Joint Economic Committee in Hungarian Parliament on 22 June 2011 discussed new initiatives with the aim of expanding and intensifying bilateral business and trade cooperation. With the Hungarian party led by of National Development and Government Commissioner for Hungarian-Chinese Economic Relations Tamás Fellegi, the intergovernmental talks focused on air transport, research and development, environment protection, the application of water purification technologies, cooperation options in car industry and the specification of mutual investment projects.

Giving priority to Eastern opening, the Hungarian Government’s aim is to allow Hungary capitalise on the opportunities offered in the rapidly developing Chinese economy. The Hungarian-Chinese Joint Economic Committee held its last session in January 2010. Yesterday’s meeting held with the intention to give impetus to a dynamic development in economic, trade, financial and cultural cooperation was a milestone of pivotal significance in the reinforcement of stable long-term strategic partnership between Hungary and the People’s Republic of China.

The purpose of the meeting was to lay the foundations of and broker practical business agreements to expand Chinese investments in Hungary that might create jobs. The parties expressed their mutual commitments to increasing Hungary’s export and the number of jobs in Hungary. Under the leadership of Tamás Fellegi, the negotiating delegation gave priority to the presentation of Hungarian and European Union law and the encouragement of investments in Hungary.

(Ministry of National Development , Department of Communication)