Hungary's economic ties with South Africa intensify
A business forum held simultaneously was attended by representatives of more than 20 Hungarian and 4-5 South African companies, Szabo told MTI. The mixed committee meeting is not only a forum to promote economic links but a good indicator of political support behind Hungarian companies, he said.
A growing number of joint ventures are established, such as the Budapest-based evopro group setting up an electric bus manufacturing plant with a partner in South Africa, he said. A few months ago, construction technology company Gremound signed a deal in South Africa for constructing tens of thousands of quakeproof homes in one year.
South Africa accounts for 23 percent of Hungary's exports to Africa and bilateral trade was at 300 million euros last year, which could triple in 3-5 years, Szabo said.
The mixed committee reviewed the major areas of trade, including construction, infrastructure and transport, energy, agriculture, food processing, environmental protection, waste management, water management, health industry, science and technology cooperation, education, culture and tourism, Szabo said.