Ship passing the Suez Canal - Press photo
CAIRO - 1 March 2023: The General Authority of the Suez Canal Economic Zone and the Hungarian Export Promotion Agency signed Tuesday a memorandum of understanding (MoU) for joint cooperation.
This came at the end of a session of the Egyptian-Hungarian joint business forum in which a number of Egyptian and Hungarian ministers and senior officials also attended.
During the forum, several bilateral meetings were held between companies from both sides as well as promotional presentations of investment opportunities available in various fields.
In her opening remarks, Minister of International Cooperation, Rania Al-Mashat welcomed the Hungarian delegation visiting Egypt at this time to complete the course of the good and historical relations between the two countries, which recently culminated in the holding of the fourth session of the Egyptian-Hungarian Joint Committee for the first time in four years at the beginning of February.
This served as a prelude to the high-level visit of the Hungarian Prime Minister and his delegation to the Arab Republic of Egypt at this time, noting that the joint declaration signed today to bring the level of relations between the two countries to the level of strategic partnership opens a wide field for further joint work towards expanding the range of relations and enhancing joint development efforts, according to Al-Mashat.
She also thanked the Hungarian Foreign Minister for his warm welcome and coordination for the fourth session of the Joint Committee on Economic, Scientific and Technical Cooperation between the two countries to be held in Hungary in early February.
The Minister of International Cooperation explained that the Egyptian-Hungarian Business Forum is an important mechanism for strengthening the relations between the private sector of the two friendly countries, and discussing all areas of joint cooperation that reflect the priorities and interests of the two governments, stressing the need for partnerships between the private sector of the two countries to be as high as the aspirations of leaders to raise the level of common relations.
Al-Mashat stressed that the involvement of the private sector and increasing its role in development efforts is a top priority for the Egyptian government, and for this reason, it has taken many steps to create an investment environment and support the presence of the private sector in many areas. She explained that the messages sent by President Abdel Fattah El-Sisi and the Prime Minister of Hungary reflect the strength and desire of the two countries to push relations forward towards more areas of joint work.
In his speech, the Hungarian Minister of Foreign Affairs and Trade emphasized the importance and distinction of the joint Egyptian-Hungarian relations, and the determination of Hungary to push towards more partnerships at the governmental level as well as the private sector, thanking the Arab Republic of Egypt for the fruitful cooperation in many areas, including stopping illegal immigration, expressing his wishes that the talks between the private sector of the two countries on more development partnerships will bear fruit.
The fourth session of the Joint Egyptian-Hungarian Committee for Economic, Scientific and Technical Cooperation, was held in Budapest, the capital of Hungary, in early February, for the first time in four years. In these activities, a memorandum of understanding was signed in the field of exchange of experiences in the field of international cooperation and development finance between the Ministry of International Cooperation and the Ministry of Foreign Affairs and Trade of Hungary, in addition to a memorandum of understanding in the field of social affairs aimed at promoting social harmony and coordination in the various fields of work.