Page 209 - MOE ENGLISH PR REPORT

Page 209 - MOE ENGLISH PR REPORT - JANUARY 2025

P. 209

2/3/25, 3:15 PM UAE, Hungary discuss deepening trade, investment ties
Ahmed bin Ali Al Sayegh said that the UAE and Hungary continue to explore constructive collaboration
under the UAE-Hungary Economic Cooperation Agreement. “Our nations both share a commitment to
support the private sector as they expand, innovate and create opportunity right along the value chain.
This includes pursuing projects and joint ventures in each other’s countries as we look to broaden our

exposure to regional and global markets. High-level meetings such as the roundtable serve to
strengthen ties of friendship and enhance economic cooperation, and we have been able to explore
collaboration in key sectors such as industry, trade, investment, tourism, logistics, infrastructure, and

real estate which will serve us well in the long term.”

Dr. Thani bin Ahmed Al Zeyoudi emphasised the UAE’s commitment to further strengthening trade and
investment ties with Hungary, building on continuous growth in non-oil trade. “Our partnership with
Hungary is built on a shared desire to drive long-term sustainable economic growth. We are both
committed to developing priority sectors such as manufacturing, logistics, agriculture, transport and

financial and professional services, and believe private-sector collaboration are the optimum means of
doing so. Just as we see many opportunities for strategic investment in Hungary, we believe the UAE’s
business-friendly environment, world-class infrastructure and strategic location offers Hungarian
companies an ideal platform for expansion into the region and beyond.”

Non-oil trade between the UAE and Hungary has been on an upward trajectory since 2019, reaching
US$799.2 million in 2024. Today, the UAE accounts for 62% of Hungary’s total trade with the GCC
region, reinforcing its role as a strategic hub for trade and investment in the Middle East.