Two ancient cities on opposite ends of the Eurasian continent, Xi'an in China and Budapest in Hungary, are forging a closer economic partnership. The cooperation is fueled by a shared history, strong industry sectors and a commitment to the Belt and Road Initiative.

Representatives from both sides attended a meeting in Budapest on Monday to promote trade cooperation.

The meeting featured presentations on Xi'an's investment environment and the signing of a memorandum of cooperation between the Xi'an Municipal Development and Reform Commission and ChinaCham Hungary.

The Chinese side emphasized the strong foundation for the partnership. Hungary has consistently ranked as China's third-largest trading partner in Central and Eastern Europe, while China holds the top spot for Hungary outside the EU.

Both Xi'an and Budapest are renowned historical centers, offering a unique blend of cultural heritage and modern development. Leaders from both cities acknowledged this shared strength and its role in propelling the partnership forward.

The Hungarian representatives at the meeting emphasized their commitment to attracting Chinese investment. Hungary's position within the EU's unified market, coupled with its long-term political stability, creates an attractive environment for foreign businesses.

They specifically welcomed cooperation with Xi'an in areas such as modern agriculture, food processing and renewable energy.

Hungary's "Going East" policy was also highlighted. This initiative underscores Hungary's commitment to open trade and investment, fostering a win-win situation for both China and the EU.