The year 2019 holds special significance for both China and Hungary because it not only marks the 70th anniversary of the founding of the People's Republic of China, but is also the 70th anniversary of the establishment of diplomatic ties between the two countries. It is a time to not only reflect on the past, but to further explore the relationship and enhance common initiatives across a wide range of sectors.

The old Chinese proverb "stone from the other hill may serve to polish the jade here" holds true for Hungary, which has contributed to China's development in several ways. It was Laszlo Hudec, a Hungarian architect, who designed over 70 landmark buildings in Shanghai. Ideas contributed by Hungarian economists inspired Chinese reform and opening-up and the natural progression of traditions amicable to cooperative affairs. Ties between people of the countries kept improving also because of these interactions, and Hungarian-Chinese relations have never been better.

The bedrock of the two nations' flourishing political ties is the shared understanding of cooperation. In pursuit of a future-oriented foreign policy based on pragmatic cooperation and constructive dialogue, Hungary's capital of Budapest has seen frequent visits from high-level Chinese delegations. In the past five months alone, Hungary saw visits by Chinese State Councilor and Foreign Minister Wang Yi, National People's Congress Chairman Li Zhanshu and Industry and Information Technology Vice-Minister Chen Zhaoxiong.

Hungarian expertise lies in boosting innovation to produce high-quality agricultural products and offering professional services in the fields of water management, manufacturing, and beyond. As a result, bilateral relations in trade and investment are thriving and the trade flow between the nations exceeded $10 billion in 2018. A great number of Chinese enterprises are choosing Hungary as their regional or European base. For example, Bank of China moved its regional headquarters to Budapest; Huawei is managing its European distribution activities from Hungary; and BYD has also established its first European factory in Hungary.

People-to-people ties are increasing too. In 2018, a total of 256,000 Chinese tourists visited Hungary, an 11 percent increase year-on-year. In the same year, 23,600 Hungarian tourists visited China, up 5 percent year-on-year. Thanks to the increasing number of travelers, Hungary is doubling efforts to improve facilities. Direct flights are already operating between the two countries' capitals, and since this summer, a new Budapest-Shanghai route opened to make the travel experience unforgettable.

The Chinese people are encouraged to visit Hungary to experience the unique cultural heritage and immerse themselves in the spectacular thermal baths.

Such strengthening of relations would hardly have been possible without fresh impetus toward building closer ties with China under the aegis of the "Eastern Opening Policy" that the Hungarian government introduced earlier this decade. Since then, Hungary has been actively seeking synergies and ways to better integrate new policies with China's Belt and Road Initiative.

In fact, the most recent meeting of our Belt and Road working group in Budapest in July achieved good financial results, infrastructure, trade and people-to-people dialogue. In 2015, as the first European country to sign a Memorandum of Understanding on the promotion of the Belt and Road, Hungary recognized the renewed interest and significance of the ancient Silk Road. For Hungarians, the Silk Road has always been tempting. In the early 20th century, Hungarian geologists - among them the eminent scientist Lajos Loczy, who provided the earliest description of Chinese echinoderm fossils - joined expeditions all along the ancient road.

Hungarians are also known for their innovation skills. The very idea of establishing a cooperation platform between Central and Eastern European countries and China was conceived after an Economic and Trade Forum in Budapest. Hungary has since accommodated the first sectoral cooperation within the China-CEE countries framework, the China-CEEC Tourism Coordination Centre and, more recently, organized the very first China-CEEC Central Bank Governors' Meeting.

To top it off, China-CEEC cooperation's flagship project, refurbishment of the Hungarian section of the Budapest-Belgrade railway line, is now well on track and construction work will begin soon. Among future plans is the setting up of a China-CEEC Customs Information Centre in Hungary that will boost the flow of information related to customs procedures in order to energize business cooperation.

One can rest assured Hungary and China will profit from increasing interactions in a changing world. Besides, what is good for Hungary and China will also serve the best interests of countries in Central and Eastern Europe, the European Union and Europe itself. Therefore, exploring opportunities that will expand Chinese-European trade routes and benefit investment partnerships for both is paramount. Effective operation of Chinese technology firms, growing market demand and a favorable investment climate in Europe will no doubt result in a competitive edge like no other.

Hungary and China have come a long way in achieving remarkable socio-economic development. By building on decades of excellent political and economic relationships, backed by our comprehensive strategic partnership and the Five-point Development Plan, Hungary intends to continuously expand its bilateral ties with China.

Hungary has great expectations! It once again looks forward to attending the China International Import Expo in order to present the expertise that Hungarian companies bring the business community here. Opportunities for advancing bilateral relationship will continue to be sought, and we will contribute to safeguarding an open world economy.

The author is Hungary's ambassador to China.

The author contributed this article to China Watch exclusively. The views expressed do not necessarily reflect those of China Watch.

All rights reserved. Copying or sharing of any content for other than personal use is prohibited without prior written permission.