“The fifth generation (5G) network is being established in Hungary with the involvement of Chinese telecommunications giant Huawei”, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday in Shanghai at the 2nd Hongqiao International Economic Forum.

At the section on digitalisation and e-commerce held on the opening day of the 2nd Chinese International Import Expo (CIIE), Mr. Szijjártó highlighted: “Hungary does not differentiate between enterprises based on nationality; the only condition it sets is that they must conform to out country’s laws and regulations”.

With relation to the establishment of the 5G network, the Minister said Huawei will be acting in cooperation with Britain’s Vodafone and with Deutsche Telekom. “Hungary is one of the European Union’s frontrunners with relation to digitalisation, and the Hungarian government is placing major emphasis on the development of e-commerce, which is affording more development opportunities for small and medium-sized enterprises and decreasing their costs”, Mr. Szijjártó emphasised.

“Amongst others, Hungary has the lowest rates of tax in the European Union and is providing various subsidies and forms of funding to foreign investors who are bringing new technologies into the country, thus facilitating digitalisation, the transition to Industry 4.0, and the development of the Internet of Things (IoT – devices that communicate with each other via the World Wide Web)”, he told those present.

The 2nd Hongqiao International Economic Forum has been organised around key concepts such as economic openness, innovation, and mutually beneficial cooperation. Some 30 member states of the World Trade Organisation (WTO) were represented at the Forum’s ministerial meeting. Mr. Szijjártó highlighted the fact that this is the second time that Hungary has attended the Expo, and the first time it is participating as guest of honour.

Mr. Szijjártó also mentioned that Hungary and China are celebrating the 70th anniversary of the establishment of diplomatic relations this year, and Hungary is proud of the fact that it was one of the first states to acknowledge the People’s Republic of China.

“Relations between the two countries have never been so good; our cooperation is developing at a rapid rate”, the Minister said, pointing out that China is Hungary’s 9th most important trade partner and its most significant trade partner from outside the European Union.