Hungarian companies equipped with innovative technologies to find new opportunities in Morocco, says minister

Trade between Hungary and Morocco has jumped 24% over the past year and the region’s economic growth offers good prospects for Hungarian companies, Finance Minister Mihaly Varga said after meeting his Moroccan counterpart on Wednesday. , Nadia Fettah Alaoui, in Morocco.

Trade between the two countries reached $260 million last year, Varga said after talks on the sidelines of the general meeting of the European Bank for Reconstruction and Development (EBRD).

Hungarian companies with innovative technologies and products will find new opportunities in Morocco, Varga said.

Hungarian exports of electrical equipment and vehicles are significant there, the finance ministry quoted Varga as saying.

The aim is to strengthen ties in water management, agricultural and food processing technologies, energy management and real estate development, Varga said.

The cooperation agreement concluded between the Hungarian and Moroccan customs and tariff authorities will also contribute to the development of relations, as will the Moroccan-Hungarian Business Council, whose work should start soon, he said.