New China deal to create more jobs in Hungary

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Europe

China and Hungary signed over 10 agreements covering areas of agriculture, e-commerce, finance, telecommunication, tourism and education on Tuesday, which means bringing more job opportunities to Hungary market.

China's current investment in Hungary has reached 4.1 billion US dollars, creating about 10,000 local jobs.

The agreements were signed with the witness of Chinese Premier Li Keqiang and his Hungarian counterpart Viktor Orban following their talks at the Hungarian National Assembly building.

"These deals mean that China will further increase its investment in Hungary and help to make more job opportunities in the country," said Li when he and Orban jointly met with the press.

"Such cooperation is also a good opportunity for Chinese companies to learn advanced technology and managing experience from the Hungarian side," he said.

According to Li, Hungary is the biggest investment destination of China in Central and Eastern Europe (CEE) with China's current investment accounting for one third of its total investment in CEE.

Statistics from the Ministry of Commerce show that the trade volume between China and Hungary increased by 10 percent year-on-year in 2016, while China's import from Hungary increased by 20 percent.

Li said that Chinese consumers hope to see more diversified products especially good-quality agricultural produce from Hungary.

Li arrived on Sunday in Budapest for an official visit and the sixth meeting of heads of government of China and 16 Central and Eastern European Countries (CEEC). He will depart for Russia on Wednesday for the 16th meeting of the Council of Heads of Government (Prime Ministers) of the Shanghai Cooperation Organization from Thursday to Friday.

Source(s): Xinhua News Agency