UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan today welcomed His Excellency Viktor Orbán, Prime Minister of Hungary, who is on an official visit to the UAE.
During their meeting at Qasr Al Shati in Abu Dhabi, Sheikh Mohamed and Orbán discussed the growth of bilateral relations and ways to enhance cooperation, particularly in the economic, trade, investment and development sectors, as well as technology, infrastructure and renewable energy.
Their discussions focused on fostering sustainable development in both countries and meeting the aspirations of their peoples for continued progress and prosperity.
Sheikh Mohamed highlights strong UAE-Hungary ties
For his part, Sheikh Mohamed reaffirmed the UAE’s commitment to strengthening bilateral ties with Hungary, especially in the fields of economy, trade, investment and renewable energy, among others that contribute to the development of both nations.
He highlighted the important role played by the UAE-Hungary Joint Economic Committee and the Political Consultations Committee in enhancing these relations and reiterated the UAE’s commitment to working together to expand cooperation across various sectors.
Meanwhile, Orbán thanked His Highness for the warm welcome and reaffirmed Hungary’s strong commitment to strengthening ties with the UAE, highlighting the shared goal of fostering economic growth and prosperity in both countries.
Non-oil trade grows threefold to over $1.127 billion
In March 2024, the two countries signed an agreement that aims to stimulate trade and investment flows between the two nations in priority sectors of mutual interest. The UAE-Hungary economic cooperation agreement aims to deepen bilateral ties between the two nations and drive mutual growth across key sectors including industry, commerce, investment, tourism, logistics, infrastructure and real estate.
It also aims to boost non-oil trade, which has seen a significant increase in recent years. In 2023, non-oil trade increased by 23.1 percent to over $1.127 billion — a threefold rise from $409 million in 2019.
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UAE, Hungary ink deals in key sectors
Sheikh Mohamed and Orbán also witnessed the announcement of memoranda of understanding and agreements in various fields, including education, investment, and renewable energy development, aimed at broadening the scope of cooperation.
His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs, and His Excellency Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade, signed the agreements.
The meeting was attended by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs; H.H. Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs; and Sheikh Mohamed bin Hamad bin Tahnoon Al Nahyan, Advisor to the UAE President, among others. The meeting also saw the attendance of the delegation accompanying the Hungarian Prime Minister which included several ministers and senior officials.
