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Briefing notes

FM Szijjártó: Hungary and Egypt benefit from political and trade cooperation

The countries signed several memoranda of understanding in the fields of trade, international development, education, culture and space.

As MTI reported, Foreign Minister Péter Szijjártó said at a joint press conference with Sámi Sukhri on Monday that the stability of the North African region, including Egypt, is extremely important for the security and peace of Europe. The Hungarian government will therefore continue to act to recognize the country’s merits in this area, he said.

There are no open issues between Hungary and Egypt, and the parties benefit a lot from good bilateral relations, especially in the economic field, the minister confirmed.

The Hungarian transport industry is currently fulfilling the largest foreign order ever. Within the framework of the HUF 370 billion project, a Hungarian-Russian consortium will produce 1,300 railway cars for the Egyptian national railway company. Of these, 676 are being produced in Dunakeszi, and 53 have already been delivered. As a result of the successful project, further cooperation in the transport industry is already being negotiated, Szijjártó said.

Hungarian companies are also involved in the renovation of cranes in the ports of Alexandria and Suez and in the provision of water supply in the Sinai Peninsula. Furthermore, bilateral trade has grown by 21 percent in 2021, driven by a 44 percent increase in Hungarian exports, the minister said.

Szijjártó also spoke about the coronavirus epidemic and announced that Hungary is donating 250,000 doses of AstraZeneca vaccine to Egypt, as the country is a popular tourist destination for Hungarians. In addition, an agreement on the mutual recognition of each country’s vaccine certificates is being finalized, he added. 

The minister further said that the government is negotiating with Cairo on the possibility of new gas sources to guarantee Hungary’s energy security. The new southern transport route has created the possibility for gas to be extracted in the eastern Mediterranean basin and to be transported from Egyptian LNG terminals to Hungary. 

The parties signed several memoranda of understanding at the meeting in the fields of trade, international development, education, culture and space. FM Szijjártó emphasized that the number of scholarships awarded to Egyptian students would be increased to 115 per year as well.

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