Egypt, Hungary sign 2 MOUs on railway, security fields
President Abdel Fatah al-Sisi has witnessed Friday the signing of two Memoranda of Understanding (MOUs) with Hungary on the railway and security fields - YOUM7
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CAIRO: President Abdel Fatah al-Sisi has witnessed Friday the signing of two Memoranda of Understanding (MOUs) with Hungary on the railway and security fields, Presidential spokesperson Alaa Youssef said in a statement.

Egypt’s Foreign Minister Sameh Shoukry and heads of Hans Motors and Maxim Group Investment Banking signed a MOU on 700 trains aiming at developing Egypt’s railway sector, Youssef said, adding that the second agreement was signed between the Ministries of Interior of both sides to enhance bilateral relations in the security field.

Sisi and Orbán have also signed a joint communiqué to boost bilateral relations in the political, economic, cultural and scientific fields.

“The Egyptian side encouraged Hungarian companies to participate and to invest in the major development projects that the government of Egypt initiated recently, particularly in the construction of a new economic zone adjacent to the New Suez Canal area, building a new capital city, modernizing railways and other elements of infrastructure, renewable energy facilities, agriculture and land reclamation, water treatment and water management, etc.

Egyptian companies are welcome to consider Hungary as a regional hub for their activities in Europe and to invest there,” according to the communiqué.

Sisi has arrived in the Hungarian Capital Budapest Thursday evening at an invitation from Prime Minister Viktor Orbán. His trip to Hungary followed his 2-day visit to Germany, where he met with the German Chancellor Angela Merkel and discussed bilateral cooperation.

“The two sides are gravely concerned about the deterioration of the security situation in Libya and the growing terrorist threat therein also affecting security and stability in neighboring countries,” said the communiqué.

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