Tunis/Tunisia — The Export Promotion Centre (CEPEX), on Tuesday, held a roundtable meeting on boosting economic exchanges between Tunisia and Hungary and business opportunities in Hungary, in cooperation with the Hungarian Embassy in Tunis and the Tunisian-Hungarian Business Council.
The meeting focused on the investment opportunities and the business benefits offered by the two countries, namely Tunisia's recent accession to the Common Market for Eastern and Southern Africa "COMESA", which allowed the Hungarian partners to consider Tunisia as a HUB and a gateway to Africa, said a CEPEX statement.
Moreover, Hungary could be a logistics hub for Tunisian products destined for Europe, Russia and the Balkan countries.
Tunisia is Hungary's 4th largest trading partner in Africa. On the other hand, Hungary is Tunisia's 16th largest trading partner in the European Union region.
Trade is growing with a volume exceeding $150 million in 2018, strongly dominated by the Mechanical and Electrical Industries sector, such as electrical products (electrical cables, printed circuits ...) and automotive components.
"This is due to the growth of the Hungarian automotive industry, which has more than 600 companies, with the presence of major car manufacturers (Opel, Audi, Mercedes, etc...) and major automotive equipment companies (Bosh, Valeo, Lear Corporation ...), many of which sourcing, in part, from Tunisia.