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China, Hungary sign ‘Belt and Road’ cooperation MOU

Visiting Chinese Foreign Minister Wang Yi has signed a memorandum with Hungary on further cooperation under the framework of the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

This is the first “Belt and Road” initiative document China has signed with a European country. Wang said that China will work together with Hungary to step up the modernization of the Budapest-Belgrade railroad, the construction of a China-Europe land-sea express line and other major infrastructure projects.

The two sides agreed to continue to expand trade and the scope of financial cooperation, actively carry out industrial investment cooperation, and promote bilateral pragmatic cooperation to a higher level.