The year 2015 was a milestone for China-Hungary ties, and the economic cooperation between the two sides has something to do with the 16+1 framework, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto told China Daily in an interview.
Last year, Hungary was the country in Central Europe with the highest exports to China, and it was the first year ever that China was Hungary's No. 1 trading partner outside the European Union, he added.
"The 16+1 framework made our high-level exchanges very frequent, and exactly a year ago, Hungary became the first country to sign a Memorandum of Understanding (MOU) with China regarding the Belt and Road Initiative, and this wouldn't have been possible without the 16+1 framework," Szijjarto said.
As a flagship project of the Belt and Road Initiative, the planned Hungary-Serbia high-speed railway will cut travel time from eight hours to less than three hours on this 350-kilometers-long segment of the transportation corridor.
"The existing railway doesn't allow modern delivery, so we need to modernize it to be the second track, so this has been under preparation, and facility studies have been concluded. Now we are negotiating about the financial terms and the construction contract," he said.
"The vice-chairman of the Hungarian National Development and Reform Council has just recently visited Budapest and a joint adventure was agreed to form to coordinate the investments," he added.
Last year, the two countries signed an MOU in the spirit of the Belt and Road Initiative, and the document paved the way for Hungarian beef to enter China this year.
"We are the first European country to receive permission to deliver beef to China, and we have the most permissions for food export in the entire Central Europe, so it's goose, duck, horse, beef and now the diary products. We have so many permissions and licenses, and that actually has an impact on figures," Szijjarto said.
"The food export will be the driver, and we have very strict food regulations in Hungary. In China, we understand there is a demand for higher standards, especially for food security, and in respect our food regulation is very strict, and that gives us a comparative advantage compared to others," he added.
The Hungarian minister is taking part in the 2nd China-CEEC (Central and Eastern European Countries) Investment and Trade Expo in Ningbo, which is being held from Wednesday to Sunday.
He mentioned that it makes sense to come to the expo, and Hungary is the guest of honor this year.
"We help the companies on both side to come together, but after the meetings, it's their jobs to make business with each other, so I think it makes sense, because if Chinese companies come to know Hungarian companies personally, there are many more chances for success," Szijjarto said.
On the cultural and people-to-people cooperation, he said Hungary has decreased the visa issuing deadline to 72 hours, and Hungary has entitled visa authorizing companies operating in Beijing and Shanghai to operate collection points of visa applications in 14 different cities in China.
"We offer scholarships for 200 Chinese students in Hungary every year, and we'd like to see more," Szijjarto said, "The Chinese government has offered scholarships to Hungarian students as well, so student exchange is the best way to lay down a solid foundation for the cooperation between two countries."
