NAIROBI, June 19 (NNN-KBC) — Representatives from Kenya and Hungary have concluded deliberations for the second Joint Economic and Technical Committee meeting held in Nairobi.
Led by the Principal Secretary State Department of Trade Regina Ombam and the Hungarian State Secretary for Foreign Affairs and Trade the Tristan Azbej, the meeting intended to structure the bilateral trade and economic ties between the two countries.
The meeting explored areas of mutual cooperation, including water management and irrigation, agricultural value addition, energy, trade and investment, high technology, and healthcare. Others include higher education, youth affairs and creative economy, culture, humanitarian assistance, and international development.
Speaking after the meeting, Ombam acknowledged the long-lasting bilateral ties between Kenya and Hungary dating back to 1964.
“We already partner in key areas of trade, investment, agriculture, education, health, and technology, among others. Today, the meeting agreed to strengthen our bilateral relations in these areas to accelerate our economic growth and create additional job opportunities, thereby elevating our Bottom-Up Economic Transformation Agenda,” said the PS.
She added that the two nations will align their bilateral relations to the multilateral arrangements between the European Union and the East African Community.
Echoing her remarks, the Hungarian State Secretary for Foreign Affairs and Trade, noted that there is much room for improving the trade volumes between Kenya and Hungary.
“We are offering Hungarian technology and expert know-how in technology-intensive industries. In particular, we are already witnessing some Hungarian investments in water, irrigation, and agriculture and we expect to widen this sectoral spectrum,” explained Azbej.
He pointed out that Hungary was also open to foreign direct investment from Kenya, citing its investment incentives, highly skilled labor force, and access to the European Union market under the Kenya-EU Economic Partnership Agreement.
Today’s meeting followed the successful initial meeting held virtually in 2024. Last year, trade between the two nations reached USD 20 million, rising 30 percent from the previous year. — NNN-KBC
