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Hungary, Kenya sign economic agreement

Hungary, Kenya sign economic agreement

Foreign Minister Péter Szijjártó and his Kenyan counterpart, Amina Mohamed, signed an agreement on economic and technical cooperation in Budapest on Monday.

Szijjártó said Eximbank had opened an 85 million euro credit limit to support Hungarian companies investing in Kenya. The Hungarian government will also start a 50 million dollar development loan programme to finance an oncology and an obstetrics clinic in Kenya. The parties also discussed Hungary’s planned export of irrigation and slaughterhouse technology to that country, with the agreement to be signed later.

Hungary pins high hopes on cooperation in water management, the health-care industry, agriculture, IT, security industry and public transport, he said.

Hungary is ready to raise the number of university grants issued for Kenyan students to 100 from 50, the minister said.

Hungary will also lobby for the European Union to enforce already existing strategic partnership agreements with east African countries, including Kenya, as such agreements would remove administrative obstacles to trade and investment, he said.

The security and economic welfare of African countries has a direct impact on Europe, and Kenya’s dynamically growing economy (with a 6 percent growth last year) makes the country an important player in the area, Szijjártó said.

Kenyan Foreign Minister Amina Mohamed welcomed the strengthening ties of the countries and the development loan agreement as well as the growing number of university grants, and proposed a boost of tourism between the two countries.

Photo: MTI

Source: MTI

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