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Hungary, Kenya agree on economic, technology cooperation

Int’l Relations

Hungary and the Republic of Kenya will cooperate in the areas of economy and technology, under an agreement concluded Monday by Minister of Foreign Affairs and Trade Péter Szijjártó and Kenyan Foreign Minister Amina Mohamed in Budapest, according to reports.

The two foreign ministers yesterday (photo: Attila Kovács/MTI)

“According to the agreement, a joint economic committee will be set up to coordinate cooperation, in addition to which Eximbank will be opening an EUR 85 million euro credit line to facilitate the appearance of Hungarian enterprises on the Kenyan market,” Szijjártó told reporters after the meeting, according to official government website kormany.hu.

The two sides have also agreed to launch a USD 50 million tied aid program, enabling Hungarian companies to build obstetrics and oncology hospitals in Kenya. Additionally, Hungarian enterprises will have the opportunity to export irrigation and slaughterhouse technologies to Kenya. Szijjártó noted that this agreement will be signed once all technical details have been discussed.

At the same time, Hungary is increasing the number of scholarship places available for Kenyan students to attend Hungarian universities from 50 to 100, beginning next September, the two ministers agreed, according to kormany.hu.

“Kenya is playing a leading role in African economic growth in view of the fact that it produced around 6% growth last year, in addition to which it also plays a significant stabilizing role in the region’s security,” noted Szijjártó. He added that the Hungarian-Kenyan economic cooperation offers outstanding opportunities for Hungarian enterprises within the fields of water management and agriculture, the healthcare industry, and the IT, security and public transport sectors.

Mohamed said the conclusion of the agreement was a clear indication of improving Hungarian-Kenyan relations. She welcomed the tied aid agreement and the increase in the number of scholarships for Kenyan students to attend Hungarian universities, and called for the development of tourism relations between the two countries, according to the Hungarian government website.

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