UAE President, Hungary Prime Minister discuss enhancing cooperation in key sectors

His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, received His Excellency Viktor Orbán, Prime Minister of Hungary, at Qasr Al Shati Palace in Abu Dhabi today, during the latter's official visit to the UAE. During the meeting, the two sides engaged in in-depth discussions on the development of bilateral relations between the two countries and how to strengthen cooperation in areas such as economy, trade, investment, development, technology, infrastructure, and renewable energy.

The talks focused on promoting sustainable development in both countries and meeting the shared aspirations of their people for continued progress and prosperity. Sheikh Mohamed emphasized the strong ties between the UAE and Hungary, and reaffirmed the UAE's commitment to strengthening bilateral relations with Hungary, particularly in the fields of economy, trade, investment, and renewable energy, to promote mutual development.

Sheikh Mohamed also highlighted the important role of the UAE-Hungary Joint Economic Committee and the Political Consultation Committee in strengthening relations between the two countries, and reaffirmed the UAE's commitment to working together to expand cooperation in various fields. Prime Minister Orbán expressed his gratitude to Sheikh Mohamed for his warm reception and reiterated Hungary's firm commitment to strengthening relations with the UAE, emphasizing that both sides share common goals in promoting economic growth and prosperity in both countries.

In March 2024, the two countries signed an agreement aimed at stimulating trade and investment flows between them in priority areas of mutual interest. The UAE-Hungary economic cooperation agreement aims to deepen bilateral relations and promote mutual growth in key sectors including industry, commerce, investment, tourism, logistics, infrastructure, and real estate. The agreement also aims to facilitate non-oil trade, which has seen significant growth in recent years. In 2023, non-oil trade grew by 23.1% to over $1.127 billion, a threefold increase compared to $409 million in 2019.

Sheikh Mohamed and Orbán also witnessed the announcement of memoranda of understanding and agreements in areas such as education, investment, and renewable energy development, aimed at expanding the scope of cooperation. These agreements were signed by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the UAE, and His Excellency Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary. Also present at the meeting were His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the UAE, His Highness Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs, and Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor to the UAE President, among others. The Hungarian Prime Minister's accompanying delegation, including several ministers and senior officials, also attended the meeting.