CAIRO – 3 July 2017: Economic boost and bilateral talks topped President Abdel Fattah Al-Sisi talks in his visit to Hungary that is scheduled to last for two days.
The President attended the Egyptian-Hungarian business forum that aimed at reviewing means of boosting investments and activating trade exchange.
Al-Sisi and Prime Minister Viktor Orbán inaugurated this forum.
In his speech during the forum, the president reviewed economic condition in Egypt, noting that it has witnessed challenges and structural problems exacerbated by the internal developments that followed the revolution of 25 January 2011.
“The Egyptian economy has encountered several internal challenges, increasing deficit in the balance of payments and decline in the investment and tourist numbers,” he said.
However, "Egypt has introduced economic reform measures to address the financial challenges, floated the pound and worked on luring more investments and expanding the investment guarantees to maximize the role of the private sector in the development,” he said.
Al Sisi has called on Hungarian companies to invest in Egypt in the energy and industry sectors, stressing that Egypt is among the countries with the highest investment revenues in the world.
The President also called for studying opportunities of investment in Egypt and cooperation in the fields of agriculture, water treatment, industry, energy and railways.
He concluded saying that the state is carrying out a number of mega projects, industrial zones, a new administrative capital and power plants to generate 14,000 megawatts, noting that Egypt is heading on track to achieve self-sufficiency in gas and start exporting it by 2020.
Hungarian parliament speaker to visit Egypt in November
Prior to forum, Al-Sisi met with the speaker of the Hungarian parliament, who said that he plans to visit Cairo in November for ongoing bilateral talks.
Kovar praised Egyptian-Hungarian relations, noting that it has witnessed a strong push during the past two years, as there have been mutual visits between both countries at various levels.
The Hungarian official expressed his country’s keenness to support Egypt’s efforts in achieving comprehensive development and consolidate democracy.
He also added that his country is ready to promote partnership with Egypt at various fields.
Kover praised the parliamentary relations that have improved in the light of the formation of the Joint Parliamentary Friendship Association in November 2016.
On his turn, President Al-Sisi welcomed Kovar’s visit to Egypt, with the aspiration of strengthening both countries’ relations.
The meeting further included discussion on regional issues and ways of confronting terrorism.
No differences between Egyptian on ground of religion
Upon the Egyptian president arrival to Hungary, he attended a bilateral meeting with Orban in attendance of Hungarian president.
At a joint press conference with Hungarian Orban Sisi said relations between Egypt and Hungary are deeply-rooted and are based on solid foundations.
He underlined the importance of continuing dialogue to face joint challenges and holding periodical meetings between the two countries on time to put into effect what was agreed upon.
As for the situation in Egypt, Sisi said the Egyptian leadership is not alone in fighting terrorism but it is supported by the people who are standing against radical ideas.
He said he discussed with the Hungarian premier enhancing international efforts against terrorism and the importance of addressing the countries and bodies that support and fund terrorism.
We do not differentiate between Egyptians on grounds of religion. They all have the same rights and full protection should be provided to all Egyptians. We should not be thanked for protecting our people, he said.
Sisi said the Egypt is undertaking tough economic measures that many countries were unable to take. The Egyptians accepted these tough measures because they are convinced of the importance of achieving stability.
He said talks with the Hungarian prime minister tackled fostering bilateral cooperation in all domains, especially economic ones, adding that Egyptian-Hungarian business council will convene later in the day to further economic, trade and investment cooperation.
Talks also tackled developments in Syria and Lebanon and the importance of finding peaceful solutions to them.
At the end, Sisi expressed full respect for the Hungarian people and the prime minister.
Orban calls Europe to support Egypt’s economy
On his side, Orban called on Europe to contribute to Egypt's economic stability, especially through long-term economic partnership.
Hungarian prime minister said Egypt under the leadership of Sisi seeks to build an independent national strategy, deeming Sisi as a special guest, during his meeting with Al-Sisi.
He also hailed Egypt's efforts to realize economic stability and adopting an independent foreign policy.
Orban lauded the efforts exerted by Egypt to confront terror, noting that Egypt's fight against terror is vital for maintaining Europe's stability.
He added that Egypt is defending Hungary and other European states and its victory in its fight against terror pours into Europe's interest. He also extolled Egypt for defending Christians in the East.
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