At the meeting of the Chinese-Hungarian Joint Economic Committee in Beijing, Co-chair of the Committee Péter Szijjártó noted that Hungary is China’s top investment destination, its second largest import source as well as its third most important trading partner in the Central and Eastern European region.

He also confirmed that Hungarian-Chinese bilateral relations are financially stable, thanks to a currency exchange agreement worth 10 billion Yuan, a 100 million Euro credit line agreement between their export-import banks and a 500 million Dollar Central European investment fund set up by the banks.

Hungarian exports to China increased by 10 percent last year, Péter Szijjártó said, adding that the basis of further growth may be the export of agricultural products, since the Chinese government has signalled that it would be willing to issue permits for the import of Hungarian pork, duck, goose and rabbit products.

A Hungarian-Chinese trading house, which has recently started operation in Beijing, will also help boost exports.

The Co-chairs of the Committee agreed on the importance of upgrading the Budapest-Belgrade rail line as well as building a ring line for freight trains around the Hungarian capital.

Re-launching a direct flight between Hungary and China was also discussed at the committee meeting.

Péter Szijjártó also held talks with both Deputy Foreign Minister Wang Chao and Deputy Governor of the Chinese Development Bank Li Jiping.

(Prime Minister’s Office)