Hungary Seeks Traditional Close Ties with China: Hungarian FM

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Last updated at: (Beijing Time) Friday, May 31, 2002

Hungary Seeks Traditional Close Ties with China: Hungarian FM

Hungary hopes to develop traditional close ties with China which has become an important player in the world politics and economy, the country's new foreign minister, Laszlo Kovacs, said Thursday.

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Hungary hopes to develop traditional close ties with China which has become an important player in the world politics and economy, the country's new foreign minister, Laszlo Kovacs, said Thursday.

China has great potential for development and both the Hungarian government and he himself attach great importance to the relations between the two countries, Kovacs said at his first news conference as foreign minister.

Kovacs said Hungary has traditional close ties with China and the new government, like the one in 1994-1998, hopes to further develop them.

Kovacs, chairman of the Hungarian Socialist Party, held the same post in the coalition government in 1994-1998 and visited China in 1997.

Hungary, as a small country, will pursue an all-around foreign policy. It should develop relations not only with its neighboring countries and the European Union, but also with countries in other regions as well, especially with Asian countries, Kovacs said.

Hungary's new government, a coalition of the Socialist Party and the Alliance of Free Democrats which won the election in April, was sworn in on Monday.

China and Hungary

Political Relations

On October 4, 1949, Hungary announced recognition of the People's Republic of China, and on October 6, the two countries established diplomatic relations. After the establishment of diplomatic relations, there witnessed a comprehensive development in the friendly relations between the two countries.

Economic and Trade Relations

From 1950 to 1990, the two Governments conducted their trade by keeping accounts under government agreements. In 1991, the two countries replaced this clearing- agreements trade with trade by payments in convertible foreign exchanges, and the bilateral trade volume decreased by a big margin for a time

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