The Hungarian foreign minister said Africa will make a significant contribution to global economic growth in the coming period and called it “the continent of the future”, speaking by phone from Cape Verde, where he is accompanying Prime Minister Viktor Orbán on an official visit.
In future, Africa will be to the global economy what China was a few years ago, Péter Szijjártó told MTI. Evidence of this is the presence of all of the world’s strongest economies in most African countries, seeking ways to benefit from the continent’s economic growth, he added.
Hungary must choose African countries willing to cooperate and with a common understanding, he said.
Cape Verde is a Christian country that takes Christian values and Christian heritage seriously, Szijjártó said.
“It has great respect for Hungary which has a similar attitude so the two countries share an understanding and this ensures the foundations for economic cooperation,” he added.
Hungary is laying the foundation for this cooperation by providing 35 million euros in tied aid for investment projects in agriculture, irrigation and water management in Cape Verde, he said. Water supply is a problem in Cape Verde and Hungarian companies will produce water suitable for agricultural use through desalination and wastewater recycling, he added.
Additionally, Magyar Eximbank will open a 15 million euro credit line to support partnerships between businesses in Hungary and Cape Verde, he said.
An economic protection agreement and a treaty on avoidance of double taxation with Cape Verde will be signed, Szijjártó said. A joint economic committee will also be established, he added.
Hungary will also offer an annual ten scholarships for students from Cape Verde to study at Hungarian universities, and 30 million forints (EUR 94,000) in support for training music teachers from Cape Verde in the Kodály method in the next three years, he said.
Hungary urges tighter economic cooperation between the European Union and Cape Verde, he added.
Featured image: MTI