Hungarian railway developments may see further advancements in the future within the framework of China’s Belt and Road Initiative, allowing for external financing and efficient modernization of the network, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Beijing on Wednesday.

According to a statement from the Ministry of Foreign Affairs and Trade, following over three hours of negotiations with Chinese Foreign Minister Wang Yi, an agreement was reached to include additional Hungarian railway developments on the list of infrastructure projects under China’s Belt and Road Initiative.

‘This opens up the opportunity for us to modernize and develop Hungary’s railway network quickly and efficiently with external financing, which is particularly important now as

more investments arrive, more factories are built, and more products are manufactured.

The more we can transport by rail, the better we protect our environment and the more efficiently we can utilize our geographical logistical capabilities,’ Szijjártó explained.

He also reported that similar initiatives had been proposed to expedite the construction of the oil pipeline between Hungary and Serbia within the Belt and Road Initiative framework, which could significantly contribute to improving the region’s energy security. In this context, he spoke about the importance of cooperation between China and Central Europe. He pointed out that numerous Chinese infrastructure investments have contributed to the region’s development so far, with the flagship being the renovation of the Budapest⁠–⁠Belgrade railway line, which is currently 42 per cent complete in Hungary, utilizing Hungarian, Chinese, and European technological achievements within the project. He also considered it good news that the Beijing government supports Chinese companies’ investments in Hungary, as evidenced by the imminent arrival of the Bank of China in the country. Furthermore, Hungary has been invited as a guest of honour to this year’s China Henan International Investment & Trade Fair, providing a significant opportunity for Hungarian companies to enter this vast market with a population of 1.4 billion, and for more Chinese companies to consider Hungary in their plans.

Szijjártó emphasized that the relationship between the two countries has

undergone unprecedented development over the past decade and reached a historic peak.

He stated that during this time, comprehensive strategic partnership has been built, from which Hungary has benefited greatly, especially during the most challenging times. ‘Thus, even during the past year, when the economic difficulties caused by the war really hit Europe, when the European Union has still not paid the funds due to Hungary, Chinese economic decisions and corporate investments have provided significant assistance to us to not only weather these crisis periods but also to emerge stronger from them,’ he pointed out.

He highlighted that this year marks the 75th anniversary of the establishment of diplomatic relations between the two countries, so an intensive schedule of high-level meetings between Hungary and China is expected. The minister stated that the main issue of the negotiations was the serious global security challenges, and he conveyed that both Hungary and China are deeply concerned about these issues. ‘We are concerned that the war-mongering voices in the world continue to be extremely loud, and we are concerned that effective steps have not really been taken towards peace regarding the most serious security challenges affecting the world,’ Szijjártó highlighted.

‘Both China and Hungary strengthen the camp of peace. Both China and Hungary believe that wars have no solutions on the battlefield, and wars must be ended as soon as possible, and solutions must be found at the negotiating table,’ he added. ‘Hungary and China advocate for peace; we support the Chinese peace plan simply because it exists, and it’s about peace. And we believe that any initiative that shifts international political debates, international political discourse away from war towards peace is useful,’ he added.  ‘We are interested in making the next period one of connections and ensuring that an unobstructed economic cooperation system operating on the basis of international law is viable,’ he concluded.

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