Related News
Hungary confident 'ambitious' goal likely
By Wang Yanlin |
November 14, 2011, Monday
|
Print Edition
Print Edition
THE trade volume between Hungary and China may more than double to US$20 billion by 2015, a Hungarian minister said, adding that it is an "ambitious" target that can be reached.
"It is ambitious under the current economic climate, but with efforts from both sides, the target can materialize," said Tamas Fellegi, Hungarian minister of national development, in Shanghai during the weekend as he led a business delegation to promote bilateral trade and investment.
Shipments between the two countries may surpass US$8.9 billion this year, which are dominated by agricultural and food-related products. Fellegi said the proportion of electronics goods and automobiles in the bilateral trade is rising and more trading in new energy and biomedicine are likely.
The worsening debt crisis in the European Union will make it increasingly difficult for Hungary to get financing. To cope with a widening budget deficit, the Hungarian government also plans to control its spending in a wide range of areas including education, retirement and health care.
"Given the economic conditions in western Europe, Hungary has to open more to the east," Fellegi said.
Hungary has been actively pursuing better ties with China. Chinese Premier Wen Jiabao paid an official visit to Budapest in June. Fellegi said China has bought some Hungarian national bonds, but didn't reveal the amount.
More than 4,000 Chinese companies have invested in Hungary, including major firms like Huawei and ZTE. The Wanhua Industrial Group took over Hungarian chemicals firm Borsodchem, and there will be joint projects in infrastructure development with China Railway Construction Corp, Fellegi said.
"It is ambitious under the current economic climate, but with efforts from both sides, the target can materialize," said Tamas Fellegi, Hungarian minister of national development, in Shanghai during the weekend as he led a business delegation to promote bilateral trade and investment.
Shipments between the two countries may surpass US$8.9 billion this year, which are dominated by agricultural and food-related products. Fellegi said the proportion of electronics goods and automobiles in the bilateral trade is rising and more trading in new energy and biomedicine are likely.
The worsening debt crisis in the European Union will make it increasingly difficult for Hungary to get financing. To cope with a widening budget deficit, the Hungarian government also plans to control its spending in a wide range of areas including education, retirement and health care.
"Given the economic conditions in western Europe, Hungary has to open more to the east," Fellegi said.
Hungary has been actively pursuing better ties with China. Chinese Premier Wen Jiabao paid an official visit to Budapest in June. Fellegi said China has bought some Hungarian national bonds, but didn't reveal the amount.
More than 4,000 Chinese companies have invested in Hungary, including major firms like Huawei and ZTE. The Wanhua Industrial Group took over Hungarian chemicals firm Borsodchem, and there will be joint projects in infrastructure development with China Railway Construction Corp, Fellegi said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
