UAE, 31 January, 2025 : The United Arab Emirates and Hungary have agreed to enhance trade and investment ties, exploring new opportunities for private-sector collaboration. The agreement was made during a high-level business roundtable in Abu Dhabi, chaired by Hungarian Prime Minister Viktor Orbán and hosted by the UAE Ministry of Economy.
The roundtable brought together business leaders from both nations to identify areas of potential growth, including renewable energy, sustainable technologies, digital transformation, logistics, and aviation. The discussions aimed to build on the UAE-Hungary Economic Cooperation Agreement signed in 2024 and the surge in bilateral trade, which nearly doubled from $409 million in 2019 to $799.2 million in 2024.
From the UAE, key attendees included Mohammed Hassan Alsuwaidi, Minister of Investment; Ahmed bin Ali Al Sayegh, Minister of State; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; and prominent business leaders from companies like Emaar, Masdar, Mubadala, ADNOC, and First Abu Dhabi Bank. The Hungarian delegation, led by Prime Minister Orbán, featured Foreign Minister Peter Szijjarto and executives from leading Hungarian companies, including 4iG, MOL Plc, and MBH Bank.
Prime Minister Orbán highlighted Hungary’s pro-growth business environment and its commitment to expanding global trade partnerships. Minister Alsuwaidi emphasized Hungary's importance in the UAE’s investment strategy, stating that both nations share a vision for long-term economic prosperity.
Ahmed bin Ali Al Sayegh underscored the role of the UAE-Hungary Economic Cooperation Agreement in fostering private-sector growth and expanding opportunities in key sectors such as industry, trade, investment, tourism, logistics, and real estate.
Dr. Thani bin Ahmed Al Zeyoudi reiterated the UAE’s commitment to strengthening trade ties, noting Hungary’s potential as a strategic partner. He highlighted the UAE’s business-friendly environment and world-class infrastructure as an ideal gateway for Hungarian companies seeking regional expansion.
The UAE remains Hungary’s top trading partner in the GCC, accounting for 62% of Hungary’s trade with the region, reinforcing its role as a strategic hub for trade and investment in the Middle East.
Source : www.zawya.com
