The Hungarian FM attributed the success of the flourishing Hungarian-Chinese relations to the Eastern Opening Policy of the Hungarian government, initiated 13 years ago. "This policy, this political strategy of ours, has become a huge success story."

BUDAPEST, June 10 (Xinhua) -- Cooperation with China brings significant benefits to Hungary, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said in a video message posted on his Facebook page here on Saturday.

Hungary and China are strategic partners, Szijjarto said, adding that "We look at China as a country with which cooperation can bring a lot of benefits."

According to the chief diplomat, in 2020, Chinese investors brought the highest amount of investments to Hungary, and this year is set to be the second year with such substantial investments.

Szijjarto appreciated that Hungary has been invited as a guest of honor at the 2023 World Power Battery Conference, being held between June 8 and 11 in Yibin, southwest China's Sichuan Province.

He pointed out that Hungary has become a hub for Eastern and Western investors, stating, "We are one of the three countries of the world, together with China and Germany, which host the factories of the three premium German car-making companies, who have all located the heart of their electromobility strategy to Hungary."

The battery suppliers for these manufacturers are Chinese companies, he said, noting that it was a "great honor" to announce the investments of CATL and EVE Energy in Hungary and the investment of another top-ten electric vehicle battery manufacturing company will also be announced soon.

In mid-May, the local media reported that the Chinese company Sunwoda, one of the world's top ten battery manufacturers, is planning to build a battery factory in Hungary targeting the European market.

Szijjarto highlighted that Hungary ranks fourth globally in electric vehicle battery production, and with the completion of these investments, the country will move up to second place. He also mentioned that electric vehicle batteries have become Hungary's number one export product over the past 1-1.5 years.

The Hungarian FM attributed the success of the flourishing Hungarian-Chinese relations to the Eastern Opening Policy of the Hungarian government, initiated 13 years ago. "This policy, this political strategy of ours, has become a huge success story."