It has been the result of common efforts by the two governments that Hungarian-Chinese relations in general and Hungarian-Hong-Kong relations in particular have recently seen significant improvement, Minister for National Economy Mihály Varga said, following talks with Hong Kong’s Legislative Council President Jasper Tsang Yok-sing in Budapest.
Hungary’s foreign policy has in recent years devoted special attention to the Asian region, Mihály Varga pointed out. Jasper Tsang Yok-sing reiterated data by the Berlin-based Hong Kong Economic and Trade Office, which show that Hungary has been Hong Kong’s number one trade partner in the CEE region.
Mihály Varga stressed there were more and more Hungarian enterprises showing interest in business options in Hong Kong, and he hoped that the favourable macro-economic environment in Hungary – underpinned by factors such as GDP growth that is relatively high within the EU, low inflation, a predictable and balanced economic policy -- was going to generate a similar degree of enthusiasm from Hong Kong companies. The Hungarian Minister noted that Hungarian companies would with pleasure participate in Hong Kong government programmes and infrastructure projects in the field of water management and waste water treatment, waste management and environmental protection.
With regard to the bolstering of Hungarian-Hong Kong industrial relations, Mihály Varga said he and his colleague believed most opportunities were offered by electro-mobility, specialist machinery manufacturing, the food industry and the development of digital environment. He added that both the Hungarian and Chinese government have been committed to establishing a traditional Chinese medical centre and a related research-development-innovation hub in Budapest. Hungary’s regional significance with be reinforced in 2017, when Hungary is to host a summit of the ministers of 16 CEE countries and China.
At the meeting, the two parties agreed that a direct flight between Budapest and Hong Kong would give a massive impetus to bilateral relations and help realize the “One Road, One Belt” strategy. Cathay Pacific has included Budapest in the airline’s new destinations as of 2017.
(Ministry for National Economy)
