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Proposed by China in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aiming at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes of Silk Road.

"In past years, China has cooperated with more and more countries in various aspects such as policy making, expeditions and scientific studies," said China's Vice Foreign Minister Liu Zhenmin.

In addition to enhanced transport connectivity, an SCO trade facilitation agreement will be an ideal first step to deepen regional economic cooperation.

Attendees will discuss topics including multimedia innovation for media development, as well as media outlets social responsibility.

Zhou Xinjian, economic and commercial counselor of the Chinese Embassy in Hungary, told Xinhua that the trade between the two countries reached more than 9 billion U.S. dollars last year, and was expected to exceed 10 billion U.S.dollars this year.