The meeting dealt with
arrangements for the visit of Hungarian Minister of Foreign Affairs and Trade to
Cairo early October, among other issues.
Cairo-
September 24, 2020
Minister of Trade and Industry Nevine Gamea has received András
Kovács, the new Hungarian ambassador in Cairo, where they discussed the future
of economic cooperation between the two countries as well as other issues of
mutual interest.
The meeting dealt with
arrangements for the visit of Hungarian Minister of Foreign Affairs and Trade to
Cairo early October, who is scheduled to meet with ministers and government
officials to explore means of strengthening economic cooperation between the
two countries during the next period.
The two sides also discussed investment
opportunities available in the Egyptian market, especially in the Suez Canal Economic
Zone, and its investment incentives.
“The ministry is committed to
proving all support to Hungarian companies operating in Egypt, to overcome any possible
challenges,” Gamea said.
She further highlighted the idea
of establishing a Hungarian industrial zone, similar to the Russian and Chinese
ones, which would step up Hungary’s investments in the local market.
According to official figures, Egypt-Hungary trade grew to
reach $354 million last year, compared to $266 million in 2018.
Egyptian exports to the Hungarian market hit $171 million, up
22% from nearly $140 million a year earlier. The main goods trading between the
two countries include: equipment and electrical appliances, vegetables and
seeds, ceramics, plastics, and fertilizers.