Strengthening Energy and Defense Partnerships with the United Arab Emirates
Hungary and the United Arab Emirates Strengthen Cooperation
Hungary and the United Arab Emirates have restated their commitment to bolstering cooperation, with both nations resolved to combat terrorism and advance peace, as Minister of Foreign Affairs and Trade Péter Szijjártó declared in Abu Dhabi on Wednesday.
The Minister highlighted that bilateral economic ties are progressing rapidly, with trade between the two countries hitting half a billion dollars last year. Additionally, an agreement has been reached to broaden cooperation into new areas.
“Inter-company collaborations are being initiated in sectors such as oil and gas production, energy, and renewable energy. There is a mutual desire for our companies to collaborate more closely in the banking sector, digital industry, telecommunications, and defense industry,” he emphasized. He also noted plans to expand cooperation in the food industry in the future.
Szijjártó pointed out, “It is evident that the competitiveness of the European Union has significantly decreased recently, while the competitiveness of the Gulf region has been improving dynamically. Therefore, it would be beneficial for the European Union to establish as close cooperation as possible with the Gulf region.”
He recalled past unsuccessful endeavors to establish a comprehensive free trade agreement between the European Union and the Gulf Cooperation Council and proposed initiating free trade negotiations with the United Arab Emirates separately. Success in these negotiations could significantly enhance the economic competitiveness of the European Union.
The Foreign Minister emphasized the prevalence of wars, armed conflicts, and the increasing seriousness of the terrorism threat worldwide. He commended the United Arab Emirates for its role as a moderating influence in international politics, highlighting its ability to stabilize, mitigate conflicts, and enhance peace.
“We have reaffirmed our commitment to collaborate closely in international organizations and international politics to ensure the success of initiatives that foster peace, resolve armed conflicts, and reduce the global terrorism threat,” concluded Péter Szijjártó.
Prime Minister Viktor Orbán also visited the UAE, holding discussions with Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates and Ruler of Abu Dhabi. This marked the first official visit by a Hungarian Prime Minister to the UAE, with the Hungarian delegation including representatives from domestic companies in the energy, finance, IT, telecommunications, and defense sectors.
