Hungary Presses for EU-China Investment Agreement

EU

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Minister of Foreign Affairs and Trade Péter Szijjártó said Hungary is advocating the entry into force "as soon as possible" of an investment agreement between the European Union and China, following a video conference with his Chinese counterpart Wang Yi on Tuesday, according to a report by state news wire MTI.

"We are striving for a return to the path of partnership, instead of failed sanctions, with regard to ties between the European Union and China. We are pressing for the entry into force of an investment agreement between China and the EU as soon as possible," Szijjártó said in a post on Facebook.

He said Hungary has become the "number one" investment target for Chinese companies in Central Europe, helping the country to avoid the recession looming in Europe. He added that a more than EUR 7 bln battery plant China's CATL is setting up in Debrecen will help keep Hungary's economy on the growth path in the long term.

Szijjártó acknowledged the work of his Chinese counterpart to advance relations between Hungary and China.

"My colleague Wang Yi has done an awful lot for the development of Hungarian-Chinese ties, for which I am grateful, as Hungary has profited much from those efforts," he said.

He said both sides have "always negotiated on the basis of mutual respect", adding that a look back at Chinese-Hungarian cooperation over the past eight years shows a "clear success story".

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