UAE and Hungary Strengthen Trade and Investment Ties at Abu Dhabi Roundtable Led by Prime Minister Orbán

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UAE and Hungary Strengthen Trade and Investment Ties at Abu Dhabi Roundtable Led by Prime Minister Orbán

The United Arab Emirates and Hungary have committed to deepening trade and investment ties during a high-level roundtable in Abu Dhabi, chaired by Hungarian Prime Minister Viktor Orbán. The meeting, hosted by the UAE Ministry of Economy, brought together business leaders from both nations to explore new opportunities for collaboration across various sectors, including renewable energy, sustainable technologies, digital transformation, logistics, and aviation.

The roundtable reflects the growing momentum in UAE-Hungary economic relations, following the signing of the Economic Cooperation Agreement in 2024. Non-oil bilateral trade between the two nations has nearly doubled, increasing from US$409 million in 2019 to US$799.2 million in 2024. The UAE now accounts for 62% of Hungary's total trade with the GCC region, underscoring the UAE's role as a key strategic trade partner.

Prime Minister Orbán highlighted Hungary's economic dynamism and its efforts to forge trade partnerships with markets like the UAE, which influence the global economic landscape. He stressed Hungary's pro-growth business environment, which encourages innovation and supports emerging economic sectors.

Key UAE and Hungarian Figures in Attendance:

UAE Delegation: HE Mohammed Hassan Al Suwaidi, Minister of Investment; HE Ahmed bin Ali Al Sayegh, Minister of State; HE Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; HE Saud Al Shamsi, UAE Ambassador to Hungary; and prominent figures from Emaar, Masdar, Mubadala, and ADNOC.
Hungarian Delegation: Prime Minister Viktor Orbán, HE Peter Szijjarto, Minister of Foreign Affairs and Trade, and key executives from companies such as 4iG, MOL Plc, and Budapest Airport.

HE Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, emphasized the shared commitment between the UAE and Hungary to drive sustainable economic growth and foster private-sector partnerships. "The UAE and Hungary are both focused on developing priority sectors, and our collaboration presents significant opportunities for both nations, particularly in manufacturing, logistics, agriculture, and transport," he stated.

Building on Successful Partnerships:

HE Mohammed Hassan Al Suwaidi, Minister of Investment, affirmed the UAE’s dedication to advancing bilateral relations with Hungary. "The UAE’s business-friendly environment and dynamic economy offer Hungarian companies a prime platform to expand into the MENA region and beyond," he said.

The UAE and Hungary also discussed exploring further investments in key sectors such as industry, trade, investment, tourism, logistics, infrastructure, and real estate. Both nations are committed to fostering private-sector collaboration to achieve mutual prosperity.

The roundtable discussions reinforced the UAE's role as a strategic hub for trade and investment, with Hungary looking to deepen its economic ties with the UAE in the coming years.