In highlighting the strengthening UAE-Hungary trade ties, Al Zeyoudi stated: “It is a pleasure to once again visit Hungary. Our shared vision for sustainable development and innovation creates exciting opportunities for collaboration so that we can strengthen our economic relationship. Our partnership has already witnessed significant growth in recent years, with non-oil foreign trade reaching $793.7 million in 2024 and exceeding $434.2 million in the first half of 2025 – a notable 29.4 percent increase year-on-year. Moving forward, we are well-positioned to build on this momentum.”
During his visit, Al Zeyoudi also participated in a reception at the Embassy of the United Arab Emirates in Budapest. Hosted by Ambassador Saud Hamad Ghanem Hamad Al Shamsi, the gathering included leaders from the Hungarian business community. Notable 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’s chain affiliates.
Al Zeyoudi’s visit follows a series of reciprocal trips by senior officials in recent years, including a visit by UAE leaders in July of this year. During that visit, leaders from both countries witnessed the exchange of several agreements and memoranda of understanding, aimed at expanding cooperation across various development sectors.
In 2024, the UAE and Hungary made significant progress in enhancing their economic relations by signing an Economic Cooperation Agreement, designed to facilitate deeper ties across critical sectors, such as industry, commerce, investment, tourism, logistics, infrastructure, and real estate.
The economic and diplomatic relationship between the UAE and Hungary has seen substantial growth and diversification in recent years, reflecting an increasingly strategic partnership supported by a series of high-level agreements and initiatives.
Since the signing of the Economic Cooperation Agreement in 2024, both countries have actively pursued collaboration across multiple sectors such as industry, tourism, investment, logistics, infrastructure, and real estate. This agreement has laid the groundwork for streamlined trade and expanded bilateral investments, further facilitated by the joint UAE-Hungary Economic Committee established to oversee cooperative projects and ensure alignment of commercial interests.
Source: Economymiddleeast
