Hungary strives to build close economic ties with the United Arab Emirates, one of the countries “setting the pace for global economic change”, Foreign Minister Péter Szijjártó said after a session of the Hungary-UAE joint business committee in Budapest on Friday.
Cooperation between UAE and Hungarian firms will be promoted by way of a credit line of 630 million dollars set up by Hungary’s Eximbank, Szijjártó said.
On another subject, Szijjártó said that the government has earmarked a total 21 billion forints to finance Hungary’s participation in the 2020 World Expo to be hosted by Dubai. He added that Hungary’s participation in the expo could help Hungarian water management technology firms to UAE markets.
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Szijjártó and Sultan bin Saeed Al Mansoori, his UAE counterpart, signed an agreement aimed at closer cooperation in research and technology with special regard to renewable energies, GMO-free food products and automatic vehicles.
On the featured photo Sultan bin Saeed Al Mansoor and Péter Szijjártó. Photo by Attila Kovács/MTI