UAE and Hungary continue to upgrade their commercial and investment relations
Budapest on September 8 / WAM / The United Arab Emirates and the Republic of Hungary continue to upgrade their commercial and investment relations that have witnessed qualitative developments during the past years, by exploring more opportunities to build new partnerships between the business community and the private sector in the two countries.
Within the efforts to consolidate the bonds of cooperation between the two friendly countries, His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of Foreign Trade, made an official visit to the Hungarian capital Budapest, during which constructive talks with ministers, senior officials, business leaders and private sector representatives to exchange visions on mechanisms to upgrade bilateral relations and investment.
His Excellency held bilateral meetings during the visit with His Excellency Peter Sarto, Minister of Foreign Affairs and Hungarian Trade, and His Excellency Gregley Carrashoni, mayor of Budapest.
During the meetings, the two sides discussed ways to expand trade relations and enhance the partnerships of the private sector that would advance economic growth in the two countries.
His Excellency Dr. Thani Al -Zyoudi stressed that the UAE and Hungary have a common vision to achieve sustainable development by empowering the private sector in order to provide promising opportunities for cooperation and enhance bilateral relations in priority sectors.
He said that this joint vision has positively reflected on bilateral trade and investment relations that witnessed remarkable growth in recent years, as non -oil trade amounted to $ 793.7 million in 2024, and exceeded 434.2 million dollars in the first half of 2025, a noticeable increase of 29.4% on an annual basis.
Within the visit, His Excellency Al -Zyoudi participated in a reception at the UAE embassy in Budapest, in the presence of His Excellency Saud Hamad Ghanem Hamad Al Shamsi, the country’s ambassador to Hungary, along with a number of leaders of the Hungarian Business community, including Biotei CEO of Biotechusa, Gabor Porschener, Director of Investment at GB Partners, and Tomash Saur, CEO of HVG Media, Pal. Gilirt, owner of Naturtex, Nadur Nagy, CEO of Dentons Hungary, Dr. Joseph Varana, CEO of Tolnagro, and Lazlow Brierre, co -founder of the CBA chain.
The visit of His Excellency Dr. Al -Zyoudi to Hungary is part of the mutual official visits between the two countries, where last July a number of agreements and memoranda of understanding between the two sides were signed, with the aim of expanding the horizons of cooperation in various development sectors.
In 2024, the UAE and Hungary took great steps to enhance their economic relations by signing the economic cooperation agreement aimed at deepening ties in basic sectors that include industry, trade, investment, tourism, logistical services, infrastructure and real estate.
In a later step, a joint committee was established to supervise the economic activities between the two sides, and many memoranda of understanding were signed in areas such as agriculture and space and the establishment of the UAE-Majri Business Council.
These positive developments in the relations of the two countries have concluded concrete results in the upgrading of trade and investment relations.
His Excellency Dr. Al -Zyoudi’s recent visit highlighted the common vision of the two countries in advancing sustainable economic growth and innovation, and the importance of increasing the volume of trade, investment and cooperation was highlighted in vital sectors, such as renewable energy, technology, construction and logistical services.
The two sides expressed their optimism about the capabilities of joint projects and investments that will benefit the economy of the two countries and enhance the participation of the private sector.
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