In a high-powered roundtable held in Abu Dhabi, the UAE and Hungary took a giant leap forward in their economic cooperation, aiming to forge a path towards greater trade and investment collaboration. The event, attended by key leaders and business magnates from both nations, was designed to explore new opportunities in key sectors like renewable energy, logistics, and digital transformation. This roundtable meeting was a significant follow-up to the Economic Cooperation Agreement signed in 2024, and it comes after five years of booming non-oil trade between the two nations, which nearly doubled from $409 million in 2019 to $799.2 million in 2024. The UAE’s commitment to expanding its economic reach and fostering strategic partnerships was evident, with the meeting aiming to explore fresh avenues for growth in the Middle East and Europe.
Key participants from the UAE included prominent figures like Mohammed Hassan Alsuwaidi, Minister of Investment, and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, as well as influential leaders from the private sector, including Mohamed Al Abbar, founder of Emaar Properties, and Walid Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company. From Hungary, Prime Minister Viktor Orbán led the delegation, including notable figures like Peter Szijjarto, Minister of Foreign Affairs, and Gellért Jászai, CEO of 4iG.
Hungary’s Prime Minister Viktor Orbán emphasized the incredible growth potential in Hungary’s business-friendly environment, highlighting opportunities in sectors like infrastructure, renewable energy, and digital technologies. Both nations showcased their unwavering commitment to cultivating partnerships that will not only enhance bilateral trade but also unlock new frontiers of innovation and investment. The strategic discussions centered on mutually beneficial projects and joint ventures that could reshape both countries’ business landscapes, while also extending beyond traditional sectors, targeting innovations in industries like logistics, artificial intelligence, and sustainable technologies.
The strong will to collaborate, expand opportunities, and explore new horizons is evident, positioning the UAE and Hungary as trailblazers in cross-continental economic cooperation. This partnership is not just about trade; it’s a step toward revolutionizing industries and economies through shared visions of progress.
