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Belgrade-Budapest rail construction agreement signed

The prime ministers of Hungary, Serbia, China and Macedonia signed an agreement in Belgrade at the Central and Eastern Europe-China summit yesterday, regarding the construction of a rail link between Budapest and Belgrade, Hungarian news agency MTI reported, adding that the modernization of the Budapest-Belgrade railway line with Chinese involvement is estimated to cost $2.89 bln.

Hungary’s Prime Minister Viktor Orbán called the agreement the most important moment in cooperation between the European Union and China, adding that once the railway line is upgraded, it will ensure the fastest means by which Chinese products can be transported into Europe from ports in Greece. "This railway line will form a section of a transit route from Greece through Macedonia, Serbia, and Hungary to western Europe," said the prime minister.