Minister of Foreign Affairs and Trade Péter Szijjártó has announced that Hungary supports granting market economy status to the People’s Republic of China. He said that this is because the Government of Hungary thinks that China’s acquisition of the status can further expand European-Chinese economic cooperation, which is particularly important for Hungary.
Mr. Szijjártó recalled that there is ongoing discussion in the European Union on granting market economy status to the People’s Republic of China.
He further added that China is one of Hungary’s most important economic and trade partners, and its most important foreign trade partner outside the EU. In addition, Hungary is increasingly successful in attracting investment from the Middle East and Asia. There is currently USD 3.5 billion worth of Chinese investment in Hungary, and a number of Chinese companies have chosen Hungary as their regional centre.
Mr. Szijjártó said that “We believe that by granting this to the People’s Republic of China, European-Chinese economic cooperation can further be enhanced, which is of special importance for Hungary. We will also remain the flagship of Chinese-Central European cooperation in the future”.