Hungary deepens ties with China through strategic agreements and BRI ventures
Foreign Minister Peter Szijjarto revealed that the government of Hungary has finalised 18 bilateral agreements with China, with key deals focusing on infrastructure projects, some of which also include Serbia.
These agreements were inked during discussions between Chinese leader Xi Jinping and Hungarian Prime Minister Viktor Orban.
Hungary moves closer to China: A summary of outcomes
The minister underlined that the two nations have compiled a joint roster of ventures under the Chinese Belt and Road Initiative (BRI), making Hungary the solitary European Union member engaged in this scheme.
Serbia is involved in several joint ventures, which arrived on the agenda directly following Xi's visit to Hungary. These include the development of "the most modern, largest, safest and fastest border crossing between Hungary and Serbia in Europe" and the establishment of a pipeline bridging the two European nations.
Nonetheless, details about nuclear cooperation remained unclear. Before Xi's arrival, the Hungarian press suggested potential Chinese involvement in the forthcoming expansion of the Paks nuclear power plant in central Hungary, currently a project of Russia's Rosatom.
China vies for its interests
China is optimistic that the country will champion collaboration with Beijing throughout Hungary's six-month EU presidency, commencing on July 1.
Orban's administration has steadfastly countered measures by the European Union that could impede economic partnerships between Europe and China, particularly concerning the electric vehicle industry, where Beijing has recently invested several billion dollars in Hungary.
Xi visited Hungary last in 2009 before ascending to a leadership position in the People's Republic of China. The two nations celebrate 75 years since establishing their diplomatic ties this year.
