Successful Negotiations in Saudi Arabia

The Ministry of Rural Development’s Minister of State for Public Administration Géza Poprády and Managing Director of Hungarian National Trading House Co. Vilmos Skultéti are on a visit to Saudi Arabia to promote investment opportunities in Hungarian agriculture.

Following their meeting, Saudi Minister of Agriculture Fahd Bin Abdul Rahman Balghunaim said that he greatly appreciates Hungary’s avid interest in the Kingdom of Suadi Arabia and encouraged Hungarian agricultural businesses to come to the country. The development of mutual cooperation with Hungary is a strategic issue for Saudi Arabia in the interests of food security and in view of the lack of water and farmland, he explained.

Minister of State for Public Administration Géza Poprády said that Hungary met all the criteria for agricultural investment posed by the Saudi party and the average 50 percent crop surplus was clear proof of the stable performance of Hungarian agriculture. However, he also drew his negotiating partner’s attention to the fact that many enterprises are struggling because of a lack of capital, in addition to which the expertise required to market produce on the Saudi market it often also lacking, something which cooperation with Saudi partners could do much to support. A study on the state of Hungarian agriculture will be prepared in the near future to facilitate cooperation. The Minister of State trusts that the official visit of the Hungarian Prime Minister in 2014, the next session of the Hungarian-Saudi Joint Economic Committee and the upcoming Hungarian-Saudi business forum will provide further impetus to agricultural relations.