UAE President’s historic visit seals landmark energy, AI, and defence deals with Hungary – PHOTOS, UPDATED🔄
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Prime Minister Viktor Orbán met President of the United Arab Emirates (UAE) Mohamed bin Zayed Al Nahyan during his first official visit in Budapest on Thursday, the communications department of the prime minister’s office said.
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 Emirates, 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 United Arab Emirates’ 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.
DefMin: UAE President visits Hungary
The president of the United Arab Emirates is visiting Hungary for the first time, Defence Minister Kristóf Szalay-Bobrovniczky said on Facebook on Thursday.
“This is not only an important diplomatic event but also a historic moment,” Szalay-Bobrovniczky said. “I was honoured to have received His Majesty, Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates,” Szalay-Bobrovniczky said.
Szijjártó: Brussels successfully convinced to pursue one-on-one free trade talks with Gulf states
Brussels has been successfully convinced that one-on-one free trade talks should be pursued with individual Gulf states, instead of talks together, the minister of foreign affairs and trade said on Thursday, adding that Hungary had a vested interest in the talks’ speedy success.
Péter Szijjártó said that the visit of President of the United Arab Emirates Mohamed bin Zayed Al Nahyan to Hungary was an event of “diplomatic history”. It had been the first time that the ruler of a middle Eastern country travelled to Hungary, which he said clearly showed the dynamic development of bilateral relations.
“Hungary absolutely has a vested national interest in building the closest possible cooperation with the UAE. This is true from the point of foreign policy, security and also the economy,” he added.