Egypt and Hungary agreed on bolstering the economic
partnership and trade and industrial cooperation, a matter that will increase
the volume of trade exchange between the two countries.
This came during talks held between Trade and Industry
Minister Nevine Gamea and Hungarian Minister for Foreign Affairs and Trade
Péter Szijjártó on Friday to probe means of enhancing economic cooperation.
Gamea stressed that Egypt's political leadership is keen on developing the
economic, trade, and investment relations with Hungary and opening up new
horizons for the Egyptian exports to tap into the markets of Hungary and
Central and Eastern European Countries (CEECs).
The minister said the government welcomed luring more Hungarian capital and
investments in the Egyptian market, she added the ministry will communicate
with the Federation of Egyptian Industries (FEI) to nominate a number of
companies that are interested in cooperating with the Hungarian side to benefit
from the financing programs offered by the Hungarian Export-Import Bank Plc.
(Eximbank).
The talks tackled the possibility of setting up a Hungarian industrial zone in
Egypt, she noted, noting that there is a large opportunity to establish joint
projects in the fields of tourism, pharmaceuticals, IT, energy, health,
railway, agriculture, textiles, and fertilizers.
Meanwhile, Szijjártó said his country is keen on enhancing economic cooperation
with Egypt as it is Hungary's most important economic partner in the Middle
East and Africa.
Szijjártó also noted that Hungary's Export-Import Bank allocated 100 million
euros to support establishing joint ventures in all industrial domains in the
Egyptian market.
He pointed out that preparations are underway to hold the joint economic
committee by the end of October, which provides a good opportunity to agree on
more cooperation projects between Egypt and Hungary.
Source: Egypt Today
