For our dynamically developing Partners in the Far East, which are essentially of high technical and technological quality, we try to choose from among the mutually fruitful domestic investment opportunities solutions arising from the governmental, municipal or private sector. Cooperation is a controlled process accompanied by a continuous monitoring service, in which the effectiveness and development of cooperation can be measured.
The Chinese government is not only interested in ingentre with the entry of Chinese products into the EU market via Hungary. With the support of the government and the active involvement of individual companies, we help to make Hungarian products and technologies known and sold on the Chinese market. To do this, we have set a goal of finding potential trading partners in both B2B and B2C.
In both countries, comprehensive service platforms and cargo distribution centres support economic and commercial activities. The complete service system includes customs clearance, warehousing (customs warehouse), logistics and transport and sales business platforms, supply chain financing and administrative services to optimise costs and increase trade flows.
The governments of the two countries are also continuously improving cooperation for tourism purposes. A total of 277,000 Chinese citizens arrived in Hungary as tourists in 2019, an increase of 8.36% on the previous year. Meanwhile, four new flight pairs have been added to the air link between Hungary and China. The main objective of the next period is to broadly expand tourism cooperation, expand the tourist offer and stimulate travel.
In accordance with the friendly cooperation documents signed by the Chinese and Hungarian governments and concluded between the parties, in order to actively promote the development of settlements and regions, both countries intend to build bilateral and long-term partnerships in the framework of cooperation on culture, science and technology, in line with the development strategy of the Belt and Road Initiative.
This includes transnational and transcontinental international cooperation projects on the economy, culture, science, technology and sport and on the exchange of information between countries, which go far beyond bilateral Chinese-Hungarian cooperation.
One Belt One Road
One Belt One Road (OBOR), the brainchild of Chinese President Xi Jinping, is an ambitious economic development and commercial project that focuses on improving connectivity and cooperation among multiple countries spread across the continents of Asia, Africa, and Europe. Dubbed as the “Project of the Century” by the Chinese authorities, OBOR spans about 78 countries.
Initially announced in the year 2013 with the purpose of restoring the ancient Silk Route that connected Asia and Europe, the project's scope has been expanded over the years to include new territories and development initiatives. Also called the Belt and Road Initiative (BRI), the project involves building a big network of roadways, railways, maritime ports, power grids, oil and gas pipelines, and associated infrastructure projects.
The project covers two parts. The first is called the “Silk Road Economic Belt,” which is primarily land-based and is expected to connect China with Central Asia, Eastern Europe, and Western Europe. The second is called the “21st Century Maritime Silk Road,” which is sea-based and is expected to will China’s southern coast to the Mediterranean, Africa, South-East Asia, and Central Asia. The names are confusing as the ‘Belt’ is actually a network of roads, and the ‘Road’ is a sea route.