UAE Hungary strengthen trade ties with growing partnerships

Photo:WAM

The United Arab Emirates and Hungary are moving closer together in trade and business. Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade of the UAE, visited Hungary to hold high-level talks with Hungarian leaders and private companies. The main goal of this visit was to strengthen trade, investment, and private sector cooperation between the two countries.

During his trip, Dr. Al Zeyoudi met with Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Foreign Trade, and Gergely Karácsony, the Mayor of Budapest. Their discussions focused on finding new ways to expand trade relations and encourage private sector partnerships that can boost growth for both nations.

In his remarks, Dr. Al Zeyoudi highlighted how relations between the UAE and Hungary have been improving quickly. He pointed out that non-oil foreign trade between the two nations reached US$793.7 million in 2024. In just the first half of 2025, trade already crossed US$434.2 million, marking a 29.4% growth compared to the previous year. He noted that this strong momentum shows both sides are ready to take their cooperation to even higher levels in the coming years.

As part of his visit, Dr. Al Zeyoudi also attended a special reception hosted at the UAE Embassy in Budapest. The event brought together well-known business leaders from Hungary. Among the attendees were Bálint Lévai, CEO of BiotechUSA; Gábor Bürchner, Investment Director at GB Partners; Tamás Szauer, CEO of HVG Media; Balázs Gellért, co-owner of Naturtex; Andor Nagy, CEO of Dentons Hungary; Dr. József Varga, CEO of Tolnagro; and László Breier, co-founder of CBA chain affiliates.

This visit follows earlier exchanges of visits between senior leaders of both nations. Just a few months earlier, UAE leaders traveled to Hungary, where they signed multiple agreements and memoranda of understanding (MoUs) in key development areas. These agreements created new opportunities for cooperation in trade, industry, technology, tourism, logistics, infrastructure, and real estate.

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In 2024, both countries signed an Economic Cooperation Agreement to deepen ties in several important sectors. A joint committee was also set up to oversee projects and ensure that both countries continue to move forward with their plans. Previous MoUs also covered areas such as agriculture, space, and the creation of a UAE-Hungary Business Council, which will serve as a strong bridge between business communities.

The most recent discussions during Dr. Al Zeyoudi’s visit focused on sustainable growth and innovation. Both sides agreed that future cooperation should focus on sectors like renewable energy, advanced technology, construction, and logistics. These industries not only help create jobs but also build stronger economies for the long term.

Officials and business leaders from both nations expressed optimism about forming joint ventures and investment partnerships. They believe these projects will open new doors for companies in both countries and make their economies more competitive in the global market.

Dr. Al Zeyoudi’s visit highlights the UAE’s growing role as a global trade partner, always looking to expand connections in Europe, Asia, and beyond. For Hungary, this partnership offers new investment, modern technologies, and wider access to Gulf markets.

In short, this visit underlined a shared vision for building stronger trade relations, increasing investments, and boosting private sector collaboration. Both countries are now well-prepared to explore future opportunities and continue building a long-lasting economic partnership.