Hungarian investors to Bahrain, Bahraini students to Hungary

Regarding Hungarian-Bahraini cooperation, Péter Szijjártó praised the stabilising influence of the Kingdom of Bahrain in the Gulf area. Security in the Middle East, especially in the Gulf, is tightly connected to European security, he said. “We also appreciate that Bahrain has started to mend its relations with Israel by signing the Abraham Accords,” he said.

Trade volume between the two countries grew by 40 percent to 20 million dollars last year, Szijjártó noted. Hungary’s Eximbank has opened a 56 million dollar credit line for joint ventures to facilitate Hungarian investments in Bahrain.

Hungary also supports a free trade agreement between the Gulf countries and the EU, and is hoping to conclude a Hungarian-Bahraini agreement on investment protection by March, he said. Talks are under way on

cooperation in cyber security and information technology, and the largest Hungarian company, oil and gas company MOL, is conducting talks on making Bahraini oil production more efficient,