Abu Dhabi: The United Arab Emirates and Hungary have committed to deepening their trade and investment relationships, focusing on new opportunities for private-sector collaboration. This decision emerged from a high-level business roundtable chaired by Viktor Orb¡n, Prime Minister of Hungary, held in Abu Dhabi. The meeting was hosted by the UAE Ministry of Economy and included prominent business leaders from both countries, aiming to identify areas of potential growth in sectors such as renewable energy, sustainable technologies, digital transformation, logistics, and aviation.
According to Emirates News Agency, the roundtable was part of Prime Minister Orb¡n's official visit to the UAE, aimed at building on the Economic Cooperation Agreement signed between the two countries in 2024. This agreement has already resulted in a significant increase in bilateral non-oil trade, which nearly doubled from US$409 million in 2019 to US$799.2 million in 2024.
The UAE side was represented by key officials, including Mohammed Hassan Alsuwaidi, Minister of Investment, and Ahmed bin Ali Al Sayegh, Minister of State. Other notable attendees were Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, as well as influential figures from the UAE business community such as Mohammed Al Abbar, Founder and Chairman of Emaar Properties, and Hatem Dowidar, Group CEO of e and .
The Hungarian delegation, led by Prime Minister Orb¡n, included Peter Szijjarto, Minister of Foreign Affairs and Trade, and several CEOs from major Hungarian companies, reflecting the country's commitment to fostering international trade partnerships. Prime Minister Orb¡n emphasized Hungary's dynamic economy and its efforts to establish trade and investment partnerships with globally influential markets like the UAE.
Mohamed Hassan Alsuwaidi highlighted Hungary's significance to the UAE's investment strategy. He expressed the UAE's commitment to future-oriented partnerships that leverage its business-friendly environment and diverse economic landscape to achieve mutually beneficial outcomes with Hungary. Ahmed bin Ali Al Sayegh also noted the ongoing exploration of collaboration under the UAE-Hungary Economic Cooperation Agreement, emphasizing the importance of the private sector in expanding opportunities.
Dr. Thani bin Ahmed Al Zeyoudi reiterated the UAE's dedication to reinforcing trade and investment ties with Hungary, focusing on developing priority sectors. He highlighted the UAE's strategic location and world-class infrastructure as ideal platforms for Hungarian companies looking to expand into the region.
Non-oil trade between the UAE and Hungary has been growing since 2019, with the UAE accounting for 62% of Hungary's total trade with the GCC region. This underscores the UAE's role as a strategic hub for trade and investment in the Middle East.