“Hungary is an increasingly attractive investment destination for Chinese enterprises, while cooperation between the two countries is developing at a rapid rate”, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday in Shanghai at a Hungary-China business forum held on the opening day of the 2nd China International Import Expo (CIIE)

“The ‘Eastern Opening’ economic and political strategy launched nine years ago focuses on the establishment of cooperative relations, and the Hungarian government has built its relations with the People’s Republic of China on a foundation of mutual trust”, he said.

Mr. Szijjártó told those present that nine years ago Hungary was standing on the edge of a precipice because of the global crisis. “At the time, the goal of the Hungarian government was not only to ensure that the country survives the crisis, but also to reinforce it for the period following the crisis. The government set as its goal full employment”, the Minister highlighted, explaining that the government has created 800 thousand new jobs over the past nine years and reduced the rate of unemployment from 12.5 percent to just 3.3 percent.

“Hungary has the second highest rate of growth from among the member states of the European Union with 52 percent, and every important investment and export record has been broken during the past two years”, he underlined. “In addition, the government has succeeded in boosting economic growth while maintaining fiscal and budgetary stability”, he emphasised.

“Hungary is reducing the tax burdens on employment and is attracting investors through the provision of various forms of funding”, the Minister said. The country is moving from products that are “Made in Hungary” towards products that are “Developed in Hungary”, he stated.

Prior to the official opening of the forum, Mr. Szijjártó met with Chinese Minister of Commerce Zhong Shan, and with Minister Ni Yuefeng from China’s General Administration of Customs (GACC).

At the forum’s panel discussion, the participating Hungarian and Chinese enterprises also discussed the opportunities that could be afforded to small and medium-sized countries by China’s One Belt, One Road global economic and infrastructure initiative within the current geopolitical environment, and the future role of electronic and traditional commercial channels.