President & CEO of Tungsram, Joerg Bauer has become the Co-Chair of the Egyptian-Hungarian Business Council created by an agreement between the Hungarian and Egyptian government and operated by the Hungarian Chamber of Commerce and Industry (MKIK).
The other co-chair of the business council is Dr. Ahmed Ragab. One of the importants tasks of the committee is to expand the export opportunities of Hungarian companies in the North African country.
The CEO of Tungsram discussed the market opportunities for the lighting and smart solutions of Tungsram and the market opportunities of other Hungarian companies in Egypt with state and chamber officials and business players. Joerg Bauer had meeting with Minister of Trade and Industry Amr Nassar.
‘Tungsram has been a partner of Egypt for almost 100 years – it opened one of its first international office in Alexandria in 1922 and has throughout the many years always played an active role contributing to modern infrastructure and industrial competitiveness of Egypt by providing machines and other products’, Mr. Bauer said. ‘As early as in the 1940's Tungsram had planned to produce locally, which was only stopped by WWII. Today Tungsram aims to continue its contributions to the Egyptian economy and reassess the first great CEO of Tungsram, Lipot Aschner’s plan of a local factory’.
’Hungarian-Egyptian relations have a history, an example is that trains are called „magari” (Hungarians call themselves „magyar” in their native tounge) in Egypt’, said the general vice president of MKIK and the head of the Middle East and North Africa Faculty, Ferenc Miklóssy. ’High level discussions took place last year between the two countries, so we are happy to have a well-known Hungarian company participating in business development activities. The appearance of Tungsram in the council and their negotiations in Egypt strengthen the goals of the government to widen the horizons of Hungarian exports.’