ArabFinance: Egypt signed a memorandum of understanding (MoU) with Hungary to form a joint committee for cooperation in trade and industry, according to an official statement.

The new committee will take all measures to promote trade and industrial cooperation between Egypt and Hungary and to surmount all obstacles that affect cooperation between both countries, Egyptian trade minister Nevine Gamea stated.

The MoU will be effective for five years renewable for another five years, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó.

Moreover, Egypt’s General Authority for Investments (GAI) signed an agreement with Hungarian Export-Import Bank to promote investment opportunities in both countries.

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