Page 337 - MOE ENGLISH PR REPORT - JUNE 2024

The meeting extensively explored ways to improve cooperation and explore potential
opportunities to boost private sector growth in both countries. The objective was to cultivate
new partnerships that would reinforce the economic ties between the UAE and Hungary.
Additionally, the meeting emphasised the significance of encouraging entrepreneurs to enter
and expand their businesses into new markets, in line with the vision of both countries to
transition to innovative economic models.

The UAE and Hungary agreed on continuing the exchange of expertise and knowledge, while
also seeking insights from best practices adopted in various fields such as agriculture, food
security, animal husbandry, food industry, water and environmental management and
protection, energy, and renewable energy. In addition, the session explored innovative
methods to stimulate tourism flows and foster new avenues for collaboration between tourism
companies in both countries. Notably, air traffic between the UAE and Hungary continues to
grow, with more than 56 flights currently operating between the two destinations every month.

The two parties highlighted the significance of continued exchange of knowledge between the
public and private sectors in both countries. They noted the importance of keeping pace with
the latest advancements in modern technology and applications of artificial intelligence in the
transition towards green growth, energy efficiency, entrepreneurship, and the development of
new economy sectors.

During the meeting, the Hungarian side expressed their interest in exploring opportunities for
collaboration and coordination with relevant organisations in the UAE to enhance
sustainability policies, innovative technologies, and digital solutions in infrastructure
development.

The latest UAE-Hungary JEC session also witnessed the signing of a memorandum of
understanding (MoU) between the Ministry of Climate Change and Environment and the
Hungarian Ministry of Agriculture. The primary objective of this agreement is to strengthen
agricultural cooperation between the two countries in the next stage. This will be achieved
through capacity building, exchange of expertise and best practices in the agricultural sector,
and the localisation of innovations and technologies in various areas of agriculture. The MoU
was signed by Bin Touq and Péter Szijjártó.

Similarly, on behalf of the Hungarian Space Research Office, the Ministry of Foreign Affairs
and Trade of Hungary signed an MoU with the UAE Space Agency, to strengthen
collaboration in the areas of space research and peaceful space activities. Its main objectives
include promoting the exchange of perspectives on space policies and regulations, as well as
fostering the development of human capital and academic cooperation in the field of space
and related disciplines. The MoU was signed by Salem Butti Al Qubaisi, Director General of
the UAE Space Agency, and Peter Szijjarto.

https://wam.ae/en/article/13zbghd-uae-hungary-agree-developing-economic-partnership