Kuwaiti FM in Budapest: great potential for development between the two countries

Economic development minister Márton Nagy on Monday met Kuwaiti Foreign Minister Sheikh Salem Abdullah Al-Jaber Al-Sabah in Budapest on Monday to discuss economic ties and areas of future cooperation, the ministry told MTI.

Nagy praised Kuwait as the fifth richest country in the world with an “exemplary” 2.5 percent unemployment rate.

Trade volume between Hungary and Kuwait reached 33 million dollars in 2022, and there is “much room for improvement”, Nagy said. Besides the energy sector, there is room for cooperation in agriculture and the food and pharmaceutical industry, he said.

Hungarian companies could also benefit from Kuwait’s plan to become a financial, trade and cultural hub by 2035, he added.

As we wrote before, despite the previous plans, Kuwait Airways will not come to Budapest Airport from 13 June. Details HERE.

Source: MTI