China and Hungary are strengthening their trade relationship as Hungary prepares to be the guest country of honor at the upcoming 2nd China International Supply Chain Expo in Beijing from November 26 to November 30.
Over the past decade, the two countries have seen impressive growth in their bilateral trade. From 2014 to 2023, trade volume between China and Hungary reached a staggering $114.6 billion. This growth highlights China as Hungary’s largest trading partner outside Europe.
A Decade of Growth
Hungary has emerged as one of China’s most significant trading partners in Central and Eastern Europe. The flourishing trade ties have opened up new opportunities for businesses and industries in both countries, fostering economic development and mutual prosperity.
Looking Ahead to the Supply Chain Expo
The upcoming Supply Chain Expo in Beijing serves as a platform to further enhance cooperation. As the guest country of honor, Hungary will showcase its industries and explore new avenues for collaboration with China. The event is expected to bring together key players in global supply chains, promoting innovation and connectivity.
This growing partnership not only benefits China and Hungary but also contributes to the stability and diversification of international trade, offering valuable insights for other nations in the Global South seeking to expand their economic horizons.
Reference(s):
cgtn.com
