Hungary’s Minister for National Economy Mihály Varga met United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed, and the pair discussed economic ties between the countries as well as possible areas of cooperation, Hungarian news agency MTI reported today, citing a ministry statement. Varga mentioned that the Hungarian Eximbank has set up a €300 million credit line in order to support partnerships between businesses in Hungary and the UAE.

Minister of Foreign Affairs and Trade Péter Szijjártó discussed water management and energy with the Sheikh. Szijjártó said these two areas could become forerunners for economic cooperation between the countries, adding that residents of the UAE use more water per person than in any other country in the world, MTI reported. Hungary could also help train nuclear engineers for the UAE, the Hungarian minister said.

Szijjártó also acknowledged that UAE national flag carrier Emirates would soon have its second-biggest customer support center in Budapest.

MTI quoted Sheikh Abdullah bin Zayed as saying the UAE will open an embassy in Budapest next year.