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Hungary first European country to sign 'One Belt, One Road' plan
HUNGARY has become the first European country to sign a cooperation agreement for China's new "Silk Road" initiative to develop infrastructure across Asia and beyond, Reuters reports.
Networks of railways, highways, oil and gas pipelines, power grids, internet networks and other links across Central, West and South Asia to Greece, Russia and Oman are part of the plan as China increases its connections to Europe and Africa.
China's and Hungary's foreign ministers signed a memorandum of understanding for what is formally known as the "One Belt, One Road", according to a statement on the Chinese foreign ministry website.
Chinese President Xi Jinping said earlier this year he hoped annual trade with the countries involved in Beijing's plan to create a modern Silk Road would surpass US$2.5 trillion in a decade.
Hungary hopes to closely cooperate with China and push on with the Hungarian-Serbia railway and other major construction projects, said Hungarian President Janos Ader.
Networks of railways, highways, oil and gas pipelines, power grids, internet networks and other links across Central, West and South Asia to Greece, Russia and Oman are part of the plan as China increases its connections to Europe and Africa.
China's and Hungary's foreign ministers signed a memorandum of understanding for what is formally known as the "One Belt, One Road", according to a statement on the Chinese foreign ministry website.
Chinese President Xi Jinping said earlier this year he hoped annual trade with the countries involved in Beijing's plan to create a modern Silk Road would surpass US$2.5 trillion in a decade.
Hungary hopes to closely cooperate with China and push on with the Hungarian-Serbia railway and other major construction projects, said Hungarian President Janos Ader.
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