RSS   Newsletter   Contact   Advertise with us

Hungarian-South African relations gain intensity

Staff writer ▼ | April 19, 2016
Economic relations between the South African Republic and Hungary have become much more intensive in recent months and concrete projects are already under realisation.
Africa Hungary
Cooperation   The joint Hungarian-SA committee
The Ministry of Foreign Affairs and Trade’s Parliamentary State Secretary said that in Budapest at a press conference following the second meeting of the Hungarian-South African Joint Committee for Economic Cooperation.

In reply to a question from Hungarian news agency MTI László Szabó explained that some 100 business negotiations had taken place at the business forum organised parallel to the plenary session with the participation of over 20 Hungarian enterprises and 4-5 African companies.

The Joint Committee isn’t the only forum for cultivating economic relations, but it is an important indication to far-away countries that enterprises also have political backing, he noted.

More and more joint ventures are being established, for instance the Budapest-based evopro group and its partner are opening an electric bus manufacturing plant in South Africa, and if the project is a success production could expand to cover the whole sub-Saharan area thanks to South Africa’s determinative role within the region, Mr. Szabó told the press.

A few months ago, Hungarian construction technology firm Gremound also concluded a contract in South Africa which will enable the annual construction of tens of thousands of earthquake-proof homes.

23 percent of Hungary’s total African exports go to South Africa, with whom bilateral foreign trade flow reached almost 300 million euros last year, Mr. Szabó said, adding that this figure could easily triple within the next 3-5 years to exceed one billion euros.