Page 264 - MOE ENGLISH PR REPORT - JUNE 2024

The meeting was attended by several officials and government and private
sector representatives from both countries.

Bin Touq underscored that the relations between the UAE and Hungary have

witnessed continued growth on various fronts, especially the economic ones,
thanks to the support of both leaderships and shared development
aspirations.

He said that the UAE sees Hungary as an important economic partner in
Eastern Europe and looks forward to continuing joint efforts in sectors of
mutual interest to contribute to the sustainable development of both
economies.

The Minister of Economy said: "The convening of the 4th session of the UAE-

Hungary Joint Economic Committee is a significant step forward, reiterating
both sides' commitment to strengthening economic and investment
relations between the two countries. It reflects our shared desire to explore
opportunities for cooperation in the sectors of the new economy, clean and
renewable energy, logistics, tourism, circular economy, modern technological
industries, agriculture, water management, infrastructure projects, and space
science, unlocking new growth prospects for the private sector."

During the meeting, Bin Touq shed light on a number of incentives and
advantages offered by the UAE economy to entrepreneurs and startups, both
at legislative and regulatory levels. The country has successfully developed a
competitive legislative environment that supports the establishment of

businesses and the launch of innovative projects, thus fostering
entrepreneurship and investments and consolidating the UAE's position
among the best global economic destinations.

He pointed out that the UAE is now home to promising startups and creative
industries that also benefit from the country's leading infrastructure and

https://www.khaleejtimes.com/business/economy/uae-hungary-agree-on-developing-economic-
partnership