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COSCO contributes to dynamic development of Chinese-Hungarian relations

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Budapest, May 25, 2017. – A further contribution to facilitate the Chinese-Hungarian economic relations was the business meeting called in by the Hungarian commercial representative of COSCO SHIPPING Lines, one of the world's leaders in integrated container shipping companies. Participants at the event in Budapest were COSCO's major partners in Hungary and leading representatives of authorities related to its activities. On the schedule were the use of undiscovered business opportunities and the role of the bilateral relations in the international presence of both parties.

During the event in a constructive atmosphere Luo Zhongming, Central-European executive director of COSCO SHIPPING Lines made an introduction to the Hungarian development plans of the global company, followed by Zhou Xinjian, commercial and economic councillor of the Embassy of the People's Republic of China in Hungary evaluating the bilateral commercial relations.

On behalf of the Ministry of National Development deputy state secretary dr. László Mosóczi greeted the participants, and emphasized the exceptional role of transportation and traffic in multilateral relations. He pointed out Hungary's central geographical position and advanced infrastructure, which could make the country a good distribution base for the export of Chinese goods to the European Union. . A In In this regard COSCO made exemplary steps: it sends Chinese goods via block trains from the port of Piraeus to the intermodal logistic centre Rail Cargo Terminal – BILK, enabling the further transport by rail or road to the European markets.

The eminent representatives of the Hungarian economy stressed their commitment for the common projects and confirmed that they would welcome if COSCO made Hungary for one of its central base of intermodal traffics. drs. Erik Regter, member of the board of directors of Rail Cargo Group underlined the key role of Budapest in establishing commercial relationships, for the city might be the hub of Europe in the Chinese-Hungarian transport of goods. In his speech he highlighted the major importance of the existing and growing volume business relations with COSCO for the railway company group. The Hungarian subsidiary of the group, Rail Cargo Hungaria already runs more and more block trains from COSCO's port in Piraeus to the Rail Cargo Terminal – BILK logistic centre.

Brigadier general Károly Szabó from the National Tax-and Customs Administration (NAV) emphasized the role of NAV in strengthening and developing the economy. The tax authority shall increase its activity to meet the needs of international freight transport more effectively.

The participants of the partners' meeting praised the successes of the emerging cooperation, under which Rail Cargo Hungaria, MÁV, NAV, Disaster Management and COSCO jointly engage against circumstances interfering smooth logistic processes. Recently the possibilities of accelerating the currently – due to the migration crisis – slow border transfers container trains was discussed by the parties. Christina Baboulaki the representative of COSCO's container terminal in Piraeus introduced her presentation the significant further perspectives of the recently initiated cooperation. After the meeting the participants agreed in tightening their relations in the future.