Al Zeyoudi Visits Hungary To Enhance Bilateral Trade And Investment Relations

Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of Foreign Trade, recently visited Hungary to discuss enhancing trade and investment ties. He met with Hungarian officials to explore opportunities for collaboration between the two countries' private sectors. The visit aimed to strengthen economic relations and foster partnerships that could drive growth in both nations.

Al Zeyoudi engaged in high-level discussions with Péter Szijjártó, Hungary's Minister of Foreign Affairs and Foreign Trade, and Gergely Karácsony, Budapest's Mayor. They focused on expanding trade relations and fostering private sector partnerships. These efforts are expected to boost economic growth in both countries.

The UAE-Hungary partnership has seen significant growth recently. Non-oil foreign trade reached $793.7 million in 2024 and exceeded $434.2 million in the first half of 2025, marking a 29.4% year-on-year increase. Al Zeyoudi expressed optimism about building on this momentum, stating: "It is a pleasure to once again visit Hungary. Our shared vision for sustainable development and innovation creates exciting opportunities for collaboration so that we can strengthen our economic relationship."

During his visit, Al Zeyoudi attended a reception at the UAE Embassy in Budapest hosted by Ambassador Saud Hamad Ghanem Hamad Al Shamsi. The event included leaders from Hungary's business community such as Bálint Lévai of BiotechUSA, Gábor Bürchner from GB Partners, Tamás Szauer of HVG Media, Balázs Gellért from Naturtex, Andor Nagy of Dentons Hungary, Dr. József Varga from Tolnagro, and László Breier from CBA’s chain affiliates.

This visit follows several reciprocal trips by senior officials from both nations, including a recent visit by UAE leaders in July 2025. During that trip, various agreements and memoranda of understanding were exchanged to enhance cooperation across different development sectors.

In 2024, the UAE and Hungary signed an Economic Cooperation Agreement to deepen ties across key sectors like industry, commerce, investment, tourism, logistics, infrastructure, and real estate. This agreement was further supported by establishing a joint committee to oversee economic engagements between the two countries.

Shared Vision for Sustainable Growth

The recent discussions highlighted both nations' commitment to sustainable economic growth and innovation. They emphasized increasing trade and investment in vital industries such as renewable energy, technology, construction, and logistics. Both sides are optimistic about potential joint ventures that could benefit their economies and enhance private sector engagement.

Additionally, several Memoranda of Understanding have been signed previously covering areas like agriculture and space exploration. The establishment of the UAE-Hungary Business Council further underscores the commitment to strengthening bilateral relations.

The ongoing dialogue between the UAE and Hungary reflects their shared goals for economic development through increased collaboration in various sectors. This partnership is poised to bring mutual benefits as both countries continue working together towards common objectives.

With inputs from WAM