BRI Paves the Way for Hungary’s ‘Opening to the East’ and Boosts Global Economic Development

Hungarian Foreign Minister Peter Szijjarto stated that joining the Belt and Road Initiative (BRI) will lead to Chinese investments and the modernization of Hungary’s economy.

The country is the first European country to sign an inter-governmental agreement on BRI cooperation with China. Hungary is China’s trusted friend and partner in the EU.

Chinese President Xi Jinping expressed appreciation for Hungary’s friendly policy towards China, its active support for BRI cooperation, and Orban’s attendance at the forum three consecutive times. Orban believes the BRI will bring major changes to the world, promote global economic development, and deliver more benefits to all countries.

Chinese Foreign Minister Wang Yi expressed China’s eagerness to expand cooperation with Hungary in multiple fields. The National Development and Reform Commission and Hungarian authorities signed five cooperation documents covering areas such as infrastructure, industry, scientific research and development, and financing.

Hungary has been invited to a forum to strengthen economic and political cooperation with China, according to Levente Horvath, director of the Eurasia Center at John von Neumann University. The Hungarian delegation is pleased with the signing of several Memorandums of Understanding (MoUs) at the forum.

Xi Jinping, in a meeting with Orban, expressed readiness to seek greater synergy between the Belt and Road Initiative (BRI) and Hungary’s “Opening to the East” policy, aiming to share development opportunities and outcomes. Szijjarto, a director of the Eurasia Center, emphasized the importance of this strategic policy, stating that a country cannot operate economically successfully without cooperation with the East.

As the Belt and Road Initiative (BRI) between China and Hungary deepens, Chinese companies are increasingly recognizing Hungary as a bridge to the European market. This presence not only contributes to Hungary’s growth path but also preserves its leading role in the new technological revolution. However, negative voices from the West have tried to discredit the BRI and China-Hungary cooperation.

Europeans are not ready to look at cooperation with China practically, preferring to focus on ideological and political aspects. Prime Minister Orban has stated that Hungary opposes the decoupling and breakage of supply and industrial chains and is ready to work with China to strengthen cooperation in areas such as economy, trade, investment, connectivity, and cultural exchanges.

Belt and Road Initiative (BRI)BRIBRI Paves the Way for Hungary's 'Opening to the East' and Boosts Global Economic DevelopmentChinaHungarian Foreign Minister Peter SzijjartoHungary