Hungary and Serbia expand trade and investment opportunities under China's Belt and Road Initiative, with Hungary signing a BRI agreement.
Hungary and Serbia have seen trade and investment opportunities expand under China's Belt and Road Initiative (BRI), transforming them into significant regional players. Hungary became the first European country to sign a BRI cooperation agreement with China, contributing to its infrastructure development and improving economic and financial ties. Bilateral trade between Hungary and China exceeded $13 billion last year, and China is the largest foreign investor in Hungary, with direct investment reaching 7.6 billion euros ($8.2 billion) in 2021. Chinese EV battery manufacturers have also established a presence in Hungary, bolstering local economic growth and promoting green transition.
May 09, 2024
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