Péter Szijjártó, Minister of Foreign Affairs and Trade, said Hungary-Egypt industrial cooperation is worth hundreds of billions of forints, with a Hungarian rolling stock manufacturer having received a landmark 1.1 billion euro order.

Speaking in Cairo on Monday, the foreign minister noted that the 1,350 carriages to be used in Egypt are being manufactured in Dunakeszi. Both sides are ready to develop political, industrial and economic cooperation to the level of a strategic partnership.

Minister Szijjártó said that what had originally started as Hungary-Russia cooperation turned into a Hungary-Egypt project because of sanctions against Russia.

So far 1,015 railway carriages have been delivered, and 1,350 manufactured either partially or wholly in Hungary will be running on Egyptian railway tracks by next August, he added, noting that 900 people are employed on the project and more than 450 companies are part of the supply chain.

Minister Szijjártó said the supply of Hungarian rolling stock may be expanded in Africa. "We are talking about a huge target market," he said, referring to a rapidly growing African population and fast-paced infrastructure development.

Egypt, Minister Szijjártó noted, was not only an important partner for Hungary but for the entire European Union too. Thanks to the responsible policies of the Cairo government, several threats to Europe have receded in recent times, he added, referring to the pressure of illegal migration.

Minister Szijjártó said the EU should keep to its promise and pay 4 billion euros to Egypt "as soon as possible and free from any contrived conditions".

The minister said both countries belonged to the "international peace camp" and would continue cooperating in efforts to ensure a diplomatic settlement to the war in Ukraine.