During the visit, Hungary signed 14 agreements with the UAE that will create new opportunities in the two countries’ relations.
Prime Minister Viktor Orbán met President of the United Arab Emirates Mohamed bin Zayed Al Nahyan during his first official visit to Hungary in Budapest on Thursday.
During the visit, Hungary signed 14 agreements with the UAE that will create new opportunities in the two countries’ relations, primarily in the areas of energy, agriculture and food industry, defence industry, telecommunications and new technologies, the statement said.
The Ministry for National Economy signed three agreements with the UAE, including one on finding new investment opportunities with the global investment company Mubadala, and one on identifying opportunities for cooperation with the UAE Ministry of Investment involving data centres and artificial intelligence projects.
Energy links are expected to intensify as a result of Hungary’s Energy Ministry signing an agreement with the UAE’s Ministry of Investment and the Masdar company on cooperation in the area of green and renewable energy, and storage capacities for renewable energy.
An agreement between the Hungarian Ministry of Agriculture and the UAE’s Ministry of Investment is expected to give new impetus to cooperation in the food industry and agriculture, helping Hungarian technologies reach a market in the UAE.
The Ministry of Public Administration and Regional Development signed an agreement with the UAE’s Ministry of Cabinet Affairs on sharing government development and modernisation experiences, and the Ministry of Culture and Innovation signed a memorandum of understanding with the UAE Ministry of Family on deepening cooperation in family and youth policies.
In addition to government agreements, cooperation between companies in the two countries will also be expanded.
On the sidelines of the visit, the Budapest Stock Exchange and the Abu Dhabi Stock Exchange signed a cooperation agreement.
