Hungary furthers support of China

After a cabinet meeting in Hungary, officials from the government decided that they would continue to support the Chinese market by stepping up their efforts to grant the country market economy status. Peter Szijjarto, Hungary’s Minister of Foreign Affairs and Trade, made the announcement after the meeting and said that the relationship between the two country’s is as important as ever before.

China remains a key trading partner for Hungary so the move is important for both parties heading into the future; it is thought that China has invested around $3.5 billion in the European country in recent years. Currently, as a non-market economy, there is generally a higher level of anti-dumping duties which would change if this status was to be granted.

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