Weekly newsletter

Cooperation with Egypt on Railway Vehicle Manufacturing at Full Speed

MTI-Hungary Today 2023.07.28.

Following the largest ever order from the Hungarian transport industry, a wide-ranging Hungarian-Egyptian railway vehicle manufacturing cooperation could be launched in the future, taking advantage of the market opportunities in Africa, Minister of Foreign Affairs and Trade Péter Szijjártó said in Budapest on Thursday.

Minister of Foreign Affairs and Trade Péter Szijjártó (R) receives Egyptian Minister of Transport Kamel al-Vazir (L) in his office on 27 July 2023. Photo: MTI/Lajos Soós

According to a statement made by the Ministry of Foreign Affairs and Trade, Péter Szijjártó said at a joint press conference with the Egyptian Minister of Transport, Kamel al-Vazir, that

one of the most important areas of bilateral economic cooperation is the transport industry, as the production of railway wagons for transport to the North African country is going on at a high speed in Dunakeszi.

Dunakeszi Járműjavító Kft. Becomes Hungarian Property
Dunakeszi Járműjavító Kft. Becomes Hungarian Property

According to the information, Hungarian Wagon Investment Asset Management Ltd. has also acquired control of Transmashholding Hungary Kft., which won the order from Egyptian state railways, so that the production of passenger wagons can continue in Dunakeszi.Continue reading

He pointed out that the largest ever order for the domestic transport industry was originally a tripartite Russian-Hungarian-Egyptian project, but due to the major geopolitical changes that have taken place in the meantime, Ganz-MÁVAG is now solely responsible for its implementation.

Further Success in Hungarian-Egyptian Economic Relations
Further Success in Hungarian-Egyptian Economic Relations

The Hungarian Foreign Minister said that the conditions for successful economic cooperation between Hungary and Egypt are in place, which offer new opportunities for companies from both countries.Continue reading

He stressed that so far, 255 wagons have been delivered from Hungary and that the production of the 314 additional wagons ordered is underway. “Deliveries are also being made continuously and will be completed on time,” he said.

Screenshot of video posted on Facebook/Szijjártó Péter

He noted that the significance of the project goes beyond itself, as it has led to a significant increase in exports, which is essential for the performance of the Hungarian economy.

Today, we started discussions on how to continue expanding this cooperation, and we have opened negotiations on further joint Egyptian-Hungarian production of rolling stock for railways,”

the politician explained.

“We are ready to export production capacity and technology to Egypt, and we see an opportunity for the Hungarian railway rolling stock industry to enter the African market through the Egyptian production facilities,” he added.

Szijjártó said that an agreement had been reached on the practical training of Egyptian railway engineers and technicians in Hungary within the framework of the already existing scholarship program, in order to ensure the technical leg of the cooperation.

“The largest order ever placed by the Hungarian transport industry is now being fulfilled and we believe that this could open the door for a wide-ranging Egyptian-Hungarian cooperation in the production of railway vehicles in the future, taking advantage of the opportunities in the African market,” he concluded.

The minister mentioned that the number of scholarships for Egyptian students will be increased from 115 to 200 per year from 2024, following a record 890 applications this year.

On tourism, he emphasized that

more than 100,000 Hungarian tourists visited Egypt last year and that this number could increase in 2023, with twelve flights a week ensuring direct connections between the two countries, soon growing to fifteen following the Giza license granted to WizzAir.

The Giza-pyramids and Giza Necropolis, Egypt. Photo: Wikipedia.org

Finally, the minister stressed that Egypt is not only a strategic partner for Hungary, but also for the whole of Europe, having a crucial role in containing the migration flows towards the continent as one of the main bastions of the North African region, serving as a line of defense.

It is also thanks to Egypt’s responsible policies that migration flows from the South have been kept under control in the recent period,”

he noted.

He pointed out that Cairo is a very important partner in the fight against terrorism, because without a stable political system in the country, the terrorist threat in the region would be even more serious than it is today.

Egypt Praised for Protecting Europe from Migration Waves
Egypt Praised for Protecting Europe from Migration Waves

According to Péter Szijjártó, support for Egypt must be increased amid rising migration pressure.Continue reading

Featured image: Screenshot of video posted on Facebook/Szijjártó Péter

    [1536x1536] => Array
            [width] => 1536
            [height] => 1536
            [crop] => 

    [2048x2048] => Array
            [width] => 2048
            [height] => 2048
            [crop] =>