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During the visit, Hungary concluded 14 agreements with the United Arab Emirates, opening up new opportunities in relations between the two countries, primarily in the fields of energy, agriculture and the food industry, the defence industry, telecommunications and new technologies.
The Ministry for the National Economy signed three agreements with partners in the Emirates, including with the global investment company Mubadala on exploring common investment opportunities and with the Ministry of Investment of the Emirates on identifying cooperation opportunities concerning data centres and artificial intelligence projects.
Energy relations between the two countries could also further intensify as the Ministry for Energy concluded an agreement with the Ministry of Investment of the Emirates and the company Masdar on cooperation in the area of green and renewable energy and renewable energy storage capacities.
An agreement concluded between the Ministry of Agriculture and the Ministry of Investment of the Emirates could boost cooperation between the two countries in the food industry and agriculture, facilitating the entry of Hungarian technologies into the market of the Arabic country.
The Ministry for Public Administration and Regional Development concluded an agreement with the Ministry of Cabinet Affairs of the Emirates about sharing experiences in the field of governmental development and modernisation, while the Ministry of Culture and Innovation signed a memorandum of understanding with the Ministry of Family of the Emirates about intensifying family and youth policy cooperation.
It further adds to the significance of the visit that, in addition to government-level agreements, cooperation between businesses of the two countries has also expanded. The Hungarian space and defence technologies company 4iG Űr és Védelmi Technológiák Zrt. signed three agreements with one of the world’s leading defence industry companies, the EDGE Group about the implementation of defence industry cooperation projects. 4iG further agreed with Mubadala about exploring common investment opportunities, while as a result of an agreement concluded with one of the world’s largest telecommunications companies e& Etisalat, the company may further consolidate its international positions in the area of submarine cable projects and data centre developments.
On the margins of the visit, the Budapest Stock Exchange and the Abu Dhabi Securities Exchange concluded a cooperation agreement.
