During her participation, the Minister of Trade and Industry, in the activities of the Egyptian-Hungarian Business Forum
Nevin Gamea: Historic political and diplomatic relations linking the two countries… and a pivotal role for the private sector in promoting joint economic cooperation
Distinguished investment opportunities for Hungarian business circles in the Egyptian market in the sectors of engineering, chemical, automobile and hardware industries Household, iron and steel, clothing, leather, software and medicine
Minister of Trade and Industry Nevin Jameh confirmed that Egypt and Hungary are linked to strategic bilateral relations based on a long history of joint cooperation at all political, diplomatic and economic levels, noting the important role of business circles. In the two countries, in translating the distinguished relations between Cairo and Budapest into concrete cooperation projects that serve the interest of the peoples of the two countries and the Egyptian and Hungarian economies alike.
The Minister said that the current period is witnessing momentum
An unprecedented political situation between the political leadership in Egypt and Hungary was crowned by a series of official presidential visits by His Excellency President Abdel Fattah El-Sisi to the State of Hungary and his participation in the meetings of the Visegrad Summit.
came This is in the context of the Minister’s speech that she delivered during her participation at the end of the activities of the Egyptian-Hungarian Business Forum, in the presence of Mr. Peter Szijjarto, the Hungarian Minister of Foreign Affairs and Trade, Counselor Mohamed Abdel Wahab, Chairman of the General Investment Authority, Engineer Yahya Zaki, Chairman of the Economic Authority for the Suez Canal Zone, and Minister Plenipotentiary Trade Yahya Al Wathiq Billah, Chairman The Egyptian Commercial Representation, Mr. Hatem El-Ashry, Advisor to the Minister for Institutional Communication, Andras Kovacs, Hungarian Ambassador in Cairo, Minister, Commercial Plenipotentiary Nasser Hamid, Head of Europe Department of Commercial Representation, along with members of the Hungarian official delegation, and 201 A Hungarian company along with a large number of representatives of the Egyptian private sector.
Jameh pointed out the importance of bilateral cooperation Between Egypt and Hungary, especially in light of Hungary’s membership in the Visegrad group, which includes the countries of Hungary, the Czech Republic, Slovakia and Poland, and the interest the political leadership attaches to supporting cooperation relations with the Visegrad group in general and Hungary in particular, pointing out in this regard to the initiative announced during the visit of His Excellency President Abdel Fattah El-Sisi in to Hungary by establishing an industrial zone for the assembly countries in Egypt so that it will be a focal point for the launch of the African and Arab markets.
The Minister added that there is Distinguished opportunities for all Hungarian companies to invest in the Egyptian market, especially in the sectors of engineering industries, the automobile industry and its feeding industries, home appliances industry, heavy transport industries and its parts, iron and steel industry, ready-made clothes, leather, chemical industries, software industry, information technology, pharmaceuticals, agricultural tractors.
Jameh pointed out the importance of the Egyptian-Hungarian Business Forum in enhancing economic cooperation between the two countries and exploring new horizons for trade and investment cooperation between the two countries, pointing to the possibility of benefiting from joint projects in Egypt as a starting point for entering the markets of third countries, including the markets of Arab countries and countries of the African continent. And benefiting from free trade agreements that link Egypt with Arab and African countries with preferential benefits for products manufactured in Egypt.
The Minister noted that the Egyptian commodity and petroleum exports made a leap last year to reach about 56 billion dollars compared to about 45. $3 billion a year 2020, pointing out that non-oil merchandise exports reached during the year 2021 About 56 billion dollars compared to about 25.427 Billion dollars a year 1600 with a growth rate of 46.19 % which is the highest rate of merchandise exports
Jameh pointed out that the European Union occupied the forefront of the receiving markets for Egyptian exports during the year 8387 with a value of It amounted to about $9 billion compared to about $6 billion during the year 8387, an increase of 221678 %.
The Minister pointed out the importance of working to increase the rates of trade exchange and joint investments. Between Egypt and Hungary in order to rise to the level of relations The distinguished linking the two countries, where the volume of trade exchange between the two countries amounted to about 1600 one million dollars a year 2021 Of which 93 million Egyptian exports to Hungary, noting the importance of activating joint efforts to achieve a real balance in the balance of trade exchange between the two countries and to attract more Hungarian investments to Egypt.