Despite the international environment, we are living in the golden age of U.S. Hungary relations.Continue reading
Prime Minister Viktor Orbán welcomed Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), who paid his first official visit to Hungary, at his office on Thursday, reported the Prime Minister’s Office Communications Department.
During the visit, Hungary signed 14 agreements with the United Arab Emirates, opening up new opportunities for cooperation between the two countries, primarily in the fields of energy, agriculture and food production, defense, telecommunications, and new technologies.
The Ministry for National Economy signed three agreements with the representatives of the Emirates, including exploring joint opportunities with the global investment company Mubadala and identifying opportunities for cooperation with the Emirates Investment Ministry on data centers and artificial intelligence projects.
Relations on the field of energy between the two countries may also be further strengthened after the Ministry of Energy agreed on cooperation regarding green and renewable energy and their storage capacities with the UAE Ministry of Investment and Masdar company.
The agreement between the Ministry of Agriculture and the Ministry of Investment will give new impetus to cooperation between the two countries in food production and agriculture, facilitating the entry of Hungarian technologies into the Arab market.
A cooperation agreement was signed between the Ministry of Public Administration and Regional Development and the UAE Ministry of Cabinet Affairs on sharing experiences in government development and modernization, and a memorandum of understanding was signed between the Ministry of Culture and Innovation and the UAE Ministry of Family Affairs to deepen cooperation on family and youth policy.
The significance of the visit is further reinforced by the fact that, in addition to the government agreements, cooperation between companies in the two countries is also expanding. 4iG Space and Defense Technologies Ltd. signed three agreements with EDGE Group, one of the world’s leading defense companies, on cooperation regarding this field.
Addressing the visit, Foreign Minister Péter Szijjártó emphasized that the UAE and Hungary are both determined to work together towards peace.
“We have reaffirmed our commitment to continue to work closely together in international organizations and international politics to ensure the success of all initiatives that bring peace, resolve armed conflicts, and reduce the global threat of terrorism.”
4iG has also agreed to explore joint investment opportunities with Mubadala company, and as a result of an agreement signed with e& Etisalat, one of the world’s largest telecommunications companies, the company is further strengthening its international position in the field of submarine cable investments and data center developments.
On the sidelines of the visit, the Budapest Stock Exchange and the Abu Dhabi Stock Exchange also signed a cooperation agreement.
Via MTI; Featured image: MTI/Miniszterelnöki Kommunikációs Főosztály/Benko Vivien Cher