Hungarian Firms Join Africa’s Largest Economic and Transport Initiative
Hungary Aims to Boost Economic Ties with Angola Through Lobito Corridor Participation
In a significant move to enhance economic relations, Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó, announced the government’s intention to involve as many Hungarian companies as possible in the Lobito Corridor project. This initiative is recognized as Africa’s largest economic and transport development program and was discussed during a meeting with Angola’s Minister of Transport, Ricardo Viegas D’Abreu, in Budapest.
The Lobito Program Corridor is a massive undertaking that encompasses the construction of over 1,000 kilometers of railway alongside crucial power grid infrastructure. Szijjártó emphasized that the project is supported by both the United States and the European Union, highlighting its international significance.
During the meeting, the two officials also took steps to strengthen connectivity by signing an air services agreement, paving the way for direct flights between Hungary and Angola. Szijjártó pointed out Angola’s vast crude reserves and its aspirations to improve production technology and modernize offshore infrastructure—areas where Hungarian companies could contribute significantly.
The relationship between Hungary and Angola has been bolstered since the reopening of the Hungarian embassy in Luanda nine years ago. Notably, a Hungarian firm has secured a contract to provide biometric passports for Angola, and exports of Hungarian seeds have commenced, marking a strengthening of bilateral trade.
As the Lobito Corridor initiative progresses, Hungary is poised to play an integral role in Africa’s economic landscape, capitalizing on the opportunities presented by this monumental development project.
