Summary:

On 21 June 2023, Tunisian organizations signed agreements with both the Hungarian and Jordanian governments pledging future cooperation on trade and tourism.

The agreement between the Tunisian Confederation of Industry, Trade, and Handicrafts (UTICA) – the country’s private sector union body – and the Hungarian Chamber of Commerce and Industry was signed at the Tunisian-Hungarian Business Forum, which was co-chaired by Tunisian Foreign Minister Nabil Ammar. During the forum, UTICA’s leadership stressed that bilateral trade between Hungary and Tunisian are “below expectations” and encouraged growth in this area on both sides.

An agreement was also signed between the Association of Tunisian Travel Agents and the Jordan Society of Tourism and Travel Agents which they hope will increase tourist activity between the two countries. The memorandum of understanding signed by the two associations indicates plans to leverage low-cost airlines to reduce overall costs and promote a greater exchange of tourists.

Outlook:  

Tunisia continues to search for economic opportunities as the domestic economic situation worsens. Neither agreement promises significant economic relief, but will help to lay long-term foundations for economic opportunities as Tunisia charts a path out of the current economic crisis.

Diversification of partnerships will also be an important step forward for Tunisia as traditional economic partnerships with southern European neighbors have become strained and dominated by the discussion around irregular migration and loan deals. While critical to future flourishing, a diverse set of additional partnerships will help spur growth into the future.

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