Saudi Arabia and Hungary .. Discussion of activating the Business Council to facilitate trade and investment cooperation

The President of the Saudi Chambers Union, Hassan Al -Huwaizi, discussed during his meeting today in the Hungarian capital, Budapest, with the Deputy Minister of Economy Richard Sabadush, the opportunities for cooperation in the fields and empowerment of small and medium enterprises and the transfer and localization of technology, in the presence of the Kingdom’s ambassador to Hungary Majid Al -Abdan and members of the Saudi Hungarian Business Council.
The Saudi business delegation met with the Hungarian Foreign Minister for Bilateral Relations Elis Bougrova, and the officials of the Investment Agency, and discussed ways to enhance economic and commercial relations, activate the role of the Saudi Business Council to be a platform to facilitate trade and investment cooperation between the private sector, as well as presenting investment opportunities, and reviewing the Kingdom’s efforts in hosting international events and its pivotal role regionally and internationally.

Investment and partnership

The second day of the visit of the Union delegation witnessed the holding of the Hungarian Saudi Business Forum with the participation of 130 companies, in the presence of the Secretary -General of the Federation, Walid Al -Arnin, and the Chairman of the Joint Business Council, Eng. Marwan Al -Muqbel, which highlighted the opportunities for investment and partnership in the energy, water, agriculture, tourism and technology sectors and the initiatives of government agencies supporting the two countries. The afforestation is within the Saudi Green Initiative.
It is noteworthy that the visit of the Union delegation – which will continue until Thursday – aims to promote investment opportunities in the Kingdom and Hungary, and support Saudi non -oil exports to access European markets through the Hungary Gate, within the framework of the union’s international visits, which has so far included 14 countries, to open new markets, and increase the volume of trade and investment exchange between the Kingdom and the countries of the world.