Dubai (MTI) – The establishment of an investor protection agreement between Hungary and the United Arab Emirates is under preparation, state secretary for economic diplomacy Levente Magyar told MTI on Tuesday after the conclusion of a two-day trip to the United Arab Emirates (UAE).
During his trip Magyar met with UAE Economy Minister Sultan bin Saeed Al Mansoori and Hungary offered 100 scholarships positions for students wishing to study in Hungary.
The UAE is considering opening an embassy in Budapest next year, Magyar said, adding that there are good opportunities for cooperation in the agricultural sector as the UAE imports 90 percent of foodstuffs it consumes.
Magyar held talks with other government officials about Hungarian companies potentially contributing to urban development projects in the UAE. Magyar said other areas for cooperation are water management and environmentally friendly waste management.
Magyar also met the president of UAE-based airline Emirates and the two agreed that Hungary and Budapest would get more local promotion in the future.