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28 I Cover story bne November 2023
Orban also met with Xi, who told Orban he was a “friend” to Hungary and that both sides should “elevate” their relations. Beijing has been investing
in factories in Central Europe with a particular emphasis on production related to EVs.
"We consider you as a friend," Xi told Orban as cited by Reuters. "You have actively supported jointly building the Belt and Road and made contributions to promoting high-quality development
of the Belt and Road cooperation."
Orban was obviously well pleased with Xi’s bonhomie.
"Connectivity instead of decoupling: this is the Hungarian model. Our aim is to strengthen Hungarian-Chinese relations," Orban wrote on X following the meeting. "This is good for Hungary and good for the European economy.”
Down to business
On Putin’s second trip abroad since
the International Criminal Court (ICC) issued an arrest warrant against the Russian leader in March for kidnapping
Ukrainian children, he was reportedly in an ebullient mood.
Vucic met with Putin in Beijing where they had a “brief” conversation.
"I have met with President Putin and we talked briefly, there was no bilateral meeting," he told local journalists, adding
imposition of sanctions and a clear challenge to the US claim to be the leaders of the free world.
At the heart of the Russo-Chinese cooperation is the Treaty on Good Neighbourliness, Friendship, and Cooperation signed in 2001, which is the basis of their trade and economic
“You have actively supported jointly building the Belt and Road and made contributions to promoting high-quality development of the Belt and Road cooperation”
that Putin looked "very confident".
As bne IntelliNews has reported, Putin is attempting with Xi to build a BRICS bloc and the BRI event was attended by his core target market.
Xi was on hand to burnish Putin’s image. Xi was in Moscow in March in an ostentatious show of support for the embattled Russia following the
collaboration and emphasizes a comprehensive, equal, and strategic partnership.
Trade between the two countries has been flourishing, and more recently was catalysed by the sanctions imposed on Russia. Trade turnover was 29.3%
in 2022 y/y reaching $190.27bn. This year trade soared 30% in the first half of
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