Hungary's gov't determined to protect EU-China economic cooperation: FM

By Trend

The government of Hungary rejects all proposals that would damage economic cooperation between the European Union (EU) and China, Minister of Foreign Affairs and Trade Peter Szijjarto said here on Thursday, Trend reports citing Xinhua.

"There is a serious issue on the European agenda, and this is the possible destruction of the European-Chinese economic cooperation, which we definitely have to reject because, if the ties between European and Chinese companies and businesses were cut, it would have severe economic consequences for Europe," he told the participants in the second Hungarian Battery Day conference.

Hungary's government will do its best to reject all proposals that would fracture economic cooperation between the EU and China, because those would also cause serious harm to Europe's automotive industry.

Recalling that China was an important trading partner for the EU and referring to his government's "Eastern Opening" policy, he said that "We have made it clear since 2010 that our strategy is to be the meeting point between Western and Eastern investors and economies."

He noted that Hungary is the only country besides Germany and China to host the production plants of Germany's three largest premium car makers (Audi, BMW and Mercedes), and that his country also has the third largest electric battery production capacity in the world, making it the world's fifth largest exporter of these products.

Two of the world's six leading electric battery manufacturers are already present in Hungary, he said. Chinese battery maker CATL has recently announced its largest ever investment in Hungary.