Tunisia – The Tunisian Confederation of Industry, Trade and Handicrafts (UTICA) and the Hungarian Chamber of Commerce and Industry signed on Wednesday in Budapest a memorandum of understanding aimed at developing trade and business relations.

The agreement was signed by UTICA President Samir Majoul and Hungarian Chamber President László Parragh, on the sidelines of the Tunisian-Hungarian Business Forum.

The forum was co-chaired by Nabil Ammar, Minister of Foreign Affairs, Migration and Tunisians Abroad, and his Hungarian counterpart Péter Szijjártó, according to a UTICA statement.

Majoul called on Tunisian and Hungarian businessmen to further increase the volume of bilateral trade, which remains "below expectations" despite its "enormous" potential.

He added that Tunisia has several advantages, such as its "strategic" geographical location and skilled workforce, which make it an attractive investment destination, particularly in the manufacturing, renewable energy, information and communication technologies and tourism sectors.

FM Nabil Ammar is currently on a working visit to Hungary from 20-21 June. He is accompanied by an important delegation of businessmen led by the President of UTICA.

The aim of this visit is to strengthen the existing friendship and cooperation between the two countries in various political, economic and cultural fields, as well as to explore further the possibilities of complementarity and partnership between the representatives of the private sector in Tunisia and Hungary.

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