Friday 10 May 2024 - 21:10

Xi Jinping Calls China-Hungary Relations Strategic Partnership

Story Code : 1134195
Xi Jinping Calls China-Hungary Relations Strategic Partnership
China and Hungary decided Thursday to elevate bilateral relations to an all-weather comprehensive strategic partnership for the new era.

Hungary under right-leaning Orbán has become an important trade and investment partner for China, in contrast with some other EU nations that are considering becoming less dependent on the world’s second-largest economy.

Xi arrived in Budapest late on Wednesday (8 May) after visiting France and Serbia. In Paris, President Emmanuel Macron and EU Commission chief Ursula von der Leyen pressed him to ensure more balanced trade with Europe and use his influence on Russia to end the war in Ukraine.

After their meeting, both Xi and Orbán said that their two countries elevated ties to an “all-weather comprehensive strategic partnership.”

The $2.1 billion project, most of which is financed by a loan from China, is part of the Belt and Road Initiative, an ambitious plan launched by Xi a decade ago in the hope of building global infrastructure and energy networks connecting Asia with Africa and Europe.

Hungary and China signed 18 agreements after the meeting of their leaders, Hungarian Foreign Minister Péter Szijjártó said in a video on his Facebook page.

The two countries will start preparing the construction of a railway line around Budapest that will help transport goods produced by Chinese factories in Eastern Hungary to markets in Western Europe, Szijjártó said.