The Ministry of Commerce of China and the Ministry of Innovation and Technology of Hungary signed two memorandums of understanding to expand cooperation in the field of green development and the digital economy.

This is reported by the Xinhua news agency.

Earlier, in February 2021, China and Central and Eastern European countries agreed in February 2021 to expand their cooperation in the digital and green economy. China was an initiator of respective agreement with 50 different countries. Hungary was the first country to sign such a memorandum.

According to Hungary's Minister of Innovation and Technology László Palkovic, Hungary has done a lot to become China's most important partner.

"Hungary can become the freight, logistics and distribution center of Central Europe as it benefits as much as possible from trade between the Far East and Western Europe," he said.

In accordance with Hungary's policy of Eastern Opening, the modernization of the Hungarian stretch of the Budapest-Belgrade railway line is already underway. "This year, the 100th Chinese container train also arrived in Hungary, while deliveries are continuous on the airborne Silk Road as well," he said.

Hungary has "already done much to become China's most important partner in the region: we jointly built the largest solar power plant in Central Europe in Kaposvar, southern Hungary," he said.

With the new agreements, "we will gain an advantage over our competitors in sectors that are the pillars for a lasting increase in Hungary's competitiveness," he noted.

Under the new agreements, China and Hungary agreed to cooperate to accelerate digital transformation in all sectors of the economy and to cooperate on adopting new business models, digital skills training and innovation in digital technologies.

They also agreed to deepen mutually beneficial cooperation in the fields of green economy and clean energy, coordinate sectoral strategies and policies, and promote green developments, the statement said.