Hungary will cooperate with Chinese telecommunications giant Huawei to build its 5G network, Hungarian news agency MTI reported on Tuesday, quoting Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto in a statement. 

Szijjarto made the remarks when he spoke at the second Hongqiao International Economic Forum, a parallel session of the second China International Import Expo which started in Shanghai on Tuesday. 

"Hungary does not discriminate any firms based on their nationalities. Compliance with local laws and regulations is the only condition for becoming a business partner with Hungary," Szijjarto said. 

Huawei will work together with Vodafone and Deutsche Telekom in building the 5G network in Hungary, said the minister. 

Hungary is at the front of digitization among European Union member states, and the Hungarian government has placed a great emphasis on developing e-commerce which opens doors to small and medium-sized enterprises while cutting costs, Szijjarto added. 

Hungary, he noted, has among the lowest corporate tax rates and offers various subsidies to companies that bring new technologies to the country, especially when it comes to industry 4.0 and the Internet of Things.