Page 220 - MOE ENGLISH PR REPORT - JANUARY 2025

The Hungarian delegation, led by Prime Minister Viktor Orban, included Peter Szijjarto, Minister of
Foreign Affairs and Trade; Gellert Jaszai, CEO, 4iG; Zsolt Hernadi, 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 Janos Kuka, Chairman of the Board of Directors, Festipay Inc.

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."

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."

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
USD 799.2 million in 2024. Today, the UAE accounts for 62 per cent of Hungary's total trade with the
GCC region, reinforcing its role as a strategic hub for trade and investment in the Middle East.
(ANI/WAM)

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ties/ar-AA1y7Hp8