Page 208 - MOE ENGLISH PR REPORT - JANUARY 2025

2/3/25, 3:15 PM UAE, Hungary discuss deepening trade, investment ties
The roundtable was part of Prime Minister Orbán’s official visit to the UAE, which was designed to build
on the Economic Cooperation Agreement signed between the two countries in 2024 and the marked
increase in trade in the last five years. Between 2019 and 2024, the value of bilateral non-oil trade nearly
doubled, growing from US$409 million to US$799.2 million.

From the UAE side, the roundtable was attended by 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; Saud Al Shamsi, UAE Ambassador to Hungary; Saeed Mubarak Al Hajeri,
Assistant Minister for Economic and Trade Affairs at the UAE Ministry of Foreign Affairs; Rashed Abdul-

Karim Al Blooshi, Undersecretary, Abu Dhabi Department of Economic Development (ADDED); and
Osama Amir Fadhel, Assistant Undersecretary for Industrial Accelerators, UAE Ministry of Industry and
Advanced Technology.

Also in attendance were leading figures from the UAE business community, including, Mohammed Al
Abbar, Founder and Chairman, Emaar Properties; Hatem Dowidar, Group CEO, e&; Mohamed Jameel

Al Ramahi, CEO, Masdar; Walid Al Mokarrab Al Muhairi, Deputy Group CEO - Mubadala Investment
Company; Hareb Mubarak Al Muhairi, CEO, Abu Dhabi Investment Office (ADIO); Hamad Al Marar,
Managing Director and CEO, EDGE; Karim Murad, Global Head of Infrastructure, Abu Dhabi Investment

Authority (ADIA); Khalifa Al Shamsi, CEO, e& International; Martin Tricaud, Group Head of Investment
Banking, First Abu Dhabi Bank; Ahmed Al Hajri, Director of Business Development, ADNOC; and Rashid
Al Sarkal, Head of Corporate Coverage at Emirates NBD.

The Hungarian delegation, led by Prime Minister Viktor Orbán, included Peter Szijjarto, Minister of
Foreign Affairs and Trade; Gellért Jászai, CEO, 4iG; Zsolt Hernádi, Chairman and CEO, MOL Plc; Zsolt

Barna, CEO, MBH Bank; Ferenc Antal, CEO, N7 Holding; Zoltan Guler, Member of the Board of
Directors, Budapest Airport; and Dr. János Kuka, Chairman of the Board of Directors, Festipay Inc.

During the meeting, Prime Minister Viktor Orbán highlighted the dynamism of the Hungarian economy
and efforts to build trade and investment partnerships with markets influencing the global economic

map, including the UAE.

He pointed to the growth prospects stemming from Hungary's pro-growth business environment, which
is fostering innovation and supporting new economic sectors in the nation.

Mohamed Hassan Alsuwaidi, Minister of Investment, underlined the importance of Hungary to the UAE’s
investment strategy. “Our strong and growing bilateral relationship with Hungary reflects our shared
vision for long-term economic prosperity. The UAE remains committed to driving meaningful, future-

oriented partnerships, leveraging our business-friendly environment and diverse and dynamic economic
landscape to provide mutually beneficial outcomes. We recognise significant potential to expand FDI
and look forward to collaborating with Hungary to unlock new frontiers of innovation and investment,

shaping a prosperous future for both nations.”

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