Prime Minister Viktor Orbán (r) and Chinese President Xi Jinping - Photo: PMO

Government official: Hungary, China to further strengthen digital trade links

Strengthening Hungary-China economic links is important to both countries, the finance ministry state secretary in charge of tax affairs said on Thursday after signing a letter of intent for trade cooperation with Wu Jiang, a representative of the Shandong Dihao International Investment Limited Company.

The ministry cited Norbert Izer as stating that the agreement served to ensure the continual and dynamic increase in the Hungarian economy’s competitiveness, in which the effective cooperation with China is of crucial importance.

China is one of the most important trade partners for Hungary outside Europe, so cooperation between the two countries is vitally important in the areas of infrastructure, trade, and especially digital trade, he said.

The agreement serves to assess the necessary conditions for digital trading, and to establish and develop good practices, he said. Cooperation of this type can help both the authorities and businesses, making positive changes in various areas of everyday life, he added. The agreement will help the enforcement of regulations, strengthen trade links, support technological development and make consumer protection more effective, he added.

The government is dedicated to enhancing Hungarian companies’ competitiveness and reducing their administative burdens, and the current agreement also represents progress in this area, he said.

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