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Hungary, UAE sign nuclear energy, business cooperation agreements

The state of Hungary and Hungarian companies have signed agreements on nuclear energy, the food industry and air transport in the United Arab Emirates, Minister of Foreign Affairs and Trade Péter Szijjártó told Hungarian news agency MTI yesterday, speaking from Dubai.

(Photo: Botár)

Hungary will help train nuclear engineers from the UAE, Szijjártó said.

A request was made to the government in Dubai to clear Hungarian poultry and beef exports to the country, the minister said, adding that Hungarian dairy company Kőröstej had recently signed $22 million in deals for their milk products with three clients from the UAE, reported.

Szijjártó noted that the UAE is in the midst of building a four-block nuclear power plant. In addition to training the countryʼs nuclear engineers. Hungarian companies could also bring renewable energy solutions to the country, he added, according to MTI.

Hungary will sign an investment protection agreement with the UAE in the first half of this year, he said. Hungaryʼs National Trading House already has an office in Dubai, and Hungaryʼs Eximbank has opened a €406 mln line of credit to support business cooperation, he added.

Szijjártó said he met with the chairman-CEO of Emirates airline, Ahmed Bin Saeed Al Maktoum, adding that the carrier would expand headcount at its service center in Budapest to 300, making it the second largest service center in the world after Dubai.

Hungary is prepared to give Emirates rights to fly to other destinations from Budapest in addition to those in the UAE, Szijjártó said.

Hungary is in talks with a UAE chemicals company on a possible $50 mln investment in Hungary, he said. Hungary is competing with another country in Europe for the project, he added.

Szijjártó said representatives from 35 Hungarian companies travelling with his delegation participated at business forums on Tuesday. The inaugural meeting of the two countries joint economic committee also took place, he added.