According to the Russian satellite news agency, one of the reasons the EU obstructed was that Hungary did not hold an open tender on the basis of a bilateral agreement with China. The EU believes that this provides Hungary with the possibility of violating the EU's rules on state procurement.
Sara Marchetta, chairman of the European Chamber of Commerce in China, believes that the project to China to completely bypass the EU rules on open trade is purely a trade between China and Hungary.
The railway is 350 kilometers in length, connecting Serbia with the Hungarian capital. It allows Chinese businesses to more easily access the almost European heart. This first aroused the vigilance of Brussels officials. The railway is part of China's "One Belt, One Road" project linking Europe to Asia. The total value of the project is nearly 100 billion U.S. dollars.
The European Commission began investigating the financial independence of the Belgrade-Budapest railway construction project and can not say without the impact of this huge figure on the tightening budgets of most EU countries. It is estimated at 1.8 billion U.S. dollars. In addition, the legitimacy of Hungary in signing individual agreements with non-EU member Serbia has also been questioned. The survey focused on Hungary. Brussels is likely to impose a heavy fines upon proving violations of the rules and regulations of Europe and no threat of fines for Serbia.
Inquiry
©Hong Kong ZENEO bearings limited