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Morocco and Hungary come closer together and show a desire to cooperate

Following the 4th Joint Commission between the two countries, both territories have decided to strengthen their joint projects in some key sectors for the improvement of their economies
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PHOTO/ARCHIVO  -   Wind energy in Morocco

Morocco and Hungary foresee good economic prospects for both countries. The two nations have just completed the 4th Joint Commission, which concluded with the interest and the need to further strengthen their economic partnership. Both territories have expressed their desire to continue to cooperate and, to this end, have agreed that they must place their economic agreements on the same level as their political relations, with the two sectors becoming of equal importance.

At the end of the session, the two countries issued a communiqué in which they called for the creation of a joint working group. It will be made up of Moroccan and Hungarian specialists, professionals in various economic sectors. Initially and as announced, this organisation will be dedicated to developing trade and investment. To this end, both countries want to implement actions that are capable of developing trade between them. It is also intended to enhance the quality of exports of products between the two countries, strengthen investment and improve access to the Hungarian and Moroccan markets. 

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AP/ABDELJAIL BOUNHAR  -   Moroccan police officers remind vendors to respect security measures in Casablanca, Morocco.

Además del comercio y la inversión, existen otros sectores que también suscitan el interés común de ambos países para colaborar. Es el caso de la industria, la convergencia regulatoria, la energía, el transporte, la gestión del agua, salud, desarrollo sostenible, investigación e innovación, agricultura y educación superior.

Estas industrias destacan y han sido seleccionadas, principalmente, por el contexto en las que se enmarcan en la recuperación de la crisis sanitaria del coronavirus y los desafíos comunes de seguridad, tanto geopolíticos como climáticos. Los dos países concuerdan en que es necesario impulsar estos sectores para que los activos y las potencialidades de ambas regiones sobresalgan. 

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PHOTO/PIXABAY -  Image by Imaresz

In addition to trade and investment, there are other sectors in which the two countries are interested in working together. These include industry, regulatory convergence, energy, transport, water management, health, sustainable development, research and innovation, agriculture and higher education.

These industries stand out and have been selected mainly because of the context in which they are framed in the recovery from the coronavirus health crisis and common security challenges, both geopolitical and climatic. The two countries agree on the need to boost these sectors in order to bring the assets and potential of both regions to bear. 

The Joint Commission provides a glimpse of the good relationship that exists between Morocco and Hungary. The meeting has also served as a bridge to highlight the contribution of the private sector of the two countries to make economic relations more effective.

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AFP/FADEL SENNA  - A factory employee works on a car assembly line at the Kenitra PSA car assembly plant.

The good ties between the Kingdom and the Central European country have been evident for some time. Their great relationship is highlighted by the Morocco-Hungary Business Forum held in Casablanca and the signing of an agreement between the CGEM (General Confederation of Moroccan Enterprises) and the HCCI (Hungarian Chamber of Commerce and Industry). The latter discussed how to establish a new Business Council between the two countries. 

However, another recurring theme during the event was the importance of creating synergies between the European Union (EU) and Morocco. Both sides emphasised the importance of this collaboration, as the Kingdom serves as a gateway to the African market and to this end they want to establish the Alawi country as a hub for the continent. This promises to serve as a base for other nations on the continent thanks to its experience in cooperation.

With the conclusion of the event, the two sides adopted the minutes of the session as the new roadmap that will determine the path of their relations. Afterwards, a memorandum of understanding was signed between the AMDIE (Moroccan Agency for the Development of Investment and Exports) and its Hungarian counterpart. This union aims to promote investment and exports between the two countries.

The 4th Joint Commission is an important event for Morocco and Hungary. The last conference was chaired by Fouad Yazourh, Ambassador and Director General of the Ministry of Foreign Affairs, African Cooperation and Moroccans Residing Abroad, on the Moroccan side. On the Hungarian side, Péter Sztaray, State Secretary for Security Policy at the Ministry of Foreign Affairs and Trade, represented Hungary.

The meeting was attended by a large number of representatives from various ministerial departments of both countries. Karima Kabbaj, Morocco's ambassador to Hungary, was also present. The session was an opportunity to strengthen ties and foster mutual cooperation in sectors common to both countries. Moreover, the Hungarian side reiterated on several occasions that the Kingdom is a very strategic partner and that its relationship with the Kingdom is excellent.