UAE And Hungary Boost Trade And Investment With New Talks

Post by : Mumtaaz Qadiri

The UAE Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, recently traveled to Hungary on an official visit. His trip focused on building stronger trade, investment, and private sector relations between the two countries. The visit reflects both nations’ shared interest in working closely together to create opportunities for their economies and people.

Meetings With Hungarian Leaders

During his visit, Dr. Al Zeyoudi met with Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Foreign Trade, and Gergely Karácsony, the Mayor of Budapest. These meetings were centered on finding new ways to increase trade and encourage private businesses in both countries to form partnerships. Leaders from both sides agreed that stronger cooperation will help drive long-term economic growth.

Trade Numbers Show Growth

Dr. Al Zeyoudi highlighted how trade between the UAE and Hungary has grown significantly in recent years. In 2024, their non-oil foreign trade reached 793.7 million US dollars. In the first half of 2025 alone, the figure already crossed 434.2 million US dollars, which is a 29.4% increase compared to the same period in 2024. These numbers prove that trade is growing quickly, and both sides want to keep this momentum going.

Reception At The UAE Embassy

As part of his official visit, Dr. Al Zeyoudi also joined a reception at the UAE Embassy in Budapest. The reception was hosted by Saud Hamad Ghanem Hamad Al Shamsi, the UAE Ambassador to Hungary. The event gathered important business leaders from Hungary. Among them were Bálint Lévai, CEO of BiotechUSA; Gábor Bürchner, Investment Director at GB Partners; Tamás Szauer, CEO of HVG Media; Balázs Gellért, co-owner of Naturtex; Andor Nagy, CEO of Dentons Hungary; Dr. József Varga, CEO of Tolnagro; and László Breier, co-founder of CBA’s chain affiliates.

Business Community Engagement

The presence of leading Hungarian CEOs and investors at the reception showed the strong interest from Hungary’s private sector in working with the UAE. Such meetings allow business leaders from both countries to discuss cooperation in industries like trade, technology, real estate, and logistics. These connections will help transform ideas into real projects and investments.

Previous High-Level Visits

Dr. Al Zeyoudi’s visit to Hungary is part of ongoing efforts to build stronger relations. It follows several reciprocal visits made by leaders from both countries in recent years. For example, earlier in July 2025, UAE leaders also visited Hungary, where they witnessed the signing of new agreements and memoranda of understanding (MoUs). These visits show the commitment of both sides to deepening ties across many sectors.

Economic Cooperation Agreement

In 2024, the UAE and Hungary signed a major Economic Cooperation Agreement. This agreement became a foundation for further collaboration in important fields such as industry, commerce, tourism, infrastructure, investment, and logistics. Real estate development was also included as one of the promising sectors for joint cooperation. The agreement has opened more doors for private sector companies in both countries.

Joint Committee To Oversee Cooperation

To make sure this cooperation stays active and effective, the UAE and Hungary set up a joint committee. This committee’s role is to monitor progress, ensure agreements are followed, and propose new areas for cooperation. It serves as an important link between the governments and the private sector, ensuring smoother coordination.

Memoranda Of Understanding In Various Fields

Over the past few years, both countries have also signed multiple MoUs in specialized areas. These include agriculture, space exploration, and the creation of the UAE-Hungary Business Council. The Business Council is especially important, as it provides a platform for businesses from both countries to meet, share ideas, and launch joint projects.

Focus On Sustainable Growth

Discussions during this recent visit strongly emphasized sustainable economic growth and innovation. Leaders from both sides highlighted industries such as renewable energy, technology, construction, and logistics as key areas for future cooperation. By focusing on sustainable industries, both countries aim to create long-term solutions that also benefit future generations.

Opportunities For Joint Ventures

Both UAE and Hungarian officials expressed optimism about the opportunities for new joint ventures. By working together, companies from both countries can pool their expertise, share resources, and access new markets. Joint ventures will not only strengthen the economic ties but also help bring innovative solutions to industries like renewable energy, digital technology, and advanced logistics.

Strengthening Private Sector Engagement

A major part of Dr. Al Zeyoudi’s mission was to encourage more private sector involvement. Governments can create the framework for cooperation, but it is businesses that bring actual investments, services, and innovation. That is why meetings with Hungarian CEOs and private sector leaders were an important part of his trip. Both governments are committed to supporting businesses that want to expand across borders.

Building A Stronger Economic Future

This visit highlighted that the UAE and Hungary are moving beyond simple trade relations and working towards a comprehensive partnership. With agreements in place, an active joint committee, and strong engagement from the private sector, both countries are building a stronger economic future together. The cooperation goes beyond trade, aiming to include innovation, sustainability, and long-term development.

Shared Vision For Progress

The UAE and Hungary share a vision of progress built on sustainability, innovation, and inclusivity. This vision is guiding their efforts to expand economic relations, create new opportunities for businesses, and improve the lives of their citizens. With trade already growing at a fast pace, both sides are determined to make the partnership even stronger in the years ahead.

A Partnership With Great Potential

Dr. Thani bin Ahmed Al Zeyoudi’s official visit to Hungary marks another step in a growing partnership between the UAE and Hungary. The visit included productive meetings with top Hungarian leaders, active participation from private businesses, and a review of recent trade achievements. With agreements already signed and cooperation expanding into new areas, the future of UAE-Hungary relations looks bright. Both nations are committed to building a lasting partnership that will benefit not just their economies, but also their people, through innovation, sustainability, and joint development.

UAE Hungary trade, Economic cooperation agreement, Private sector investment