Hungary and UAE consider investor protection agreement

History

The establishment of an investor protection agreement between Hungary and the United Arab Emirates is in process, state secretary for economic diplomacy Levente Magyar told Hungarian news agency MTI late yesterday following his two-day trip to the UAE.

During his trip, Magyar met with UAE Minister of Economy Sultan bin Saeed Al Mansoori and Hungary offered 100 scholarship positions to students wishing to study in Hungary.

The UAE is considering opening an embassy in Budapest next year, Magyar said, adding that there are good opportunities for cooperation in the agricultural sector as the UAE imports 90% of the foodstuffs it consumes.

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