Hungary's Strategic Position Boosts Guangdong Companies' Access to EU Markets

Hungary is becoming a pivotal gateway for companies in Guangdong, China, looking to penetrate the European Union markets, according to Péter Várfi, Hungary's Consul General in Guangzhou. This strategic connection is being solidified through a series of events, including the recent Guangdong-Hong Kong-Macao Greater Bay Area-Hungary Economic and Trade Cooperation Conference, which took place in Budapest on May 16, 2025. This conference represents a crucial step in reinforcing cooperation in various industries such as automotive, biomedicine, green technologies, and information and communication technologies (ICT).

During this conference, numerous agreements were signed, revealing a commitment from both government officials and industry leaders to expand joint ventures and innovations. Várfi emphasized that this partnership will certainly enhance collaboration across strategic and emerging sectors, indicating significant potential for growth, especially in automotive, biomedicine, green energy, and smart technologies.

Significance of Hungary's EU Position

One of the major advantages that Hungary offers to Guangdong firms is its strategic location within the EU. The country's accessibility can enable Guangdong enterprises to reach broader European markets while minimizing operational costs compared to other EU nations. Hungary’s recent economic data from the Hungarian Investment Promotion Agency (HIPA) backs this perspective, revealing that the nation welcomed total of 10.3 billion euros in new investments in 2024, surpassing the 10 billion mark for the second year in a row, with a whopping 5.28 billion euros (51% of the total) coming from China.

Chinese manufacturers, particularly in the new energy vehicle (NEV) sector and battery companies like CATL and BYD, have significantly contributed to Hungary's economic growth, reinforcing the narrative of Hungary as an attractive investment destination.

Strengthening Bilateral Relations

The strong ties between Guangdong and Hungary have seen a number of high-level visits and commitments. For instance, László Kövér, the Speaker of the National Assembly of Hungary, made a visit to Guangdong in November 2024. These visits symbolize a mutual dedication to deepening political, economic, and cultural ties, reflecting Hungary's