UAE-Hungary Non-Oil Foreign Trade Grows 29.4% In First Half

Non-oil foreign trade between the UAE and Hungary reached $793.7 million in 2024 and exceeded $434.2 million in the first half of 2025 - a notable 29.4% increase year-on-year.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, recently embarked on an official visit to Hungary, engaging in productive discussions with key Hungarian government and private sector officials to enhance trade, investment, and private sector collaboration between the two nations.

Al Zeyoudi held high-level meetings with Péter Szijjártó, Minister of Foreign Affairs and Foreign Trade of Hungary and Gergely Karácsony, the Mayor of Budapest. Together, they explored avenues for expanding trade relations and fostering private sector partnerships that will drive economic growth in both countries.

Highlighting growing UAE-Hungary trade ties, Al Zeyoudi remarked:“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. Moving forward, we are well-positioned to build on this momentum.”

Al Zeyoudi's visit follows a number 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 nations witnessed the exchange of several agreements and memoranda of understanding between the two countries, aimed at expanding avenues of cooperation across a range of development sectors.

In 2024, the UAE and Hungary took significant strides to enhance their economic relations by signing an Economic Cooperation Agreement, with the aim to facilitate deeper ties across crucial sectors, including industry, commerce, investment, tourism, logistics, infrastructure, and real estate. The commitment was further strengthened by the establishment of a joint committee to oversee economic engagements between the two nations. Additionally, multiple Memoranda of Understanding (MoUs) have previously been signed, covering areas such as agriculture, space, and the establishment of the UAE-Hungary Business Council.

The discussions during Al Zeyoudi's recent visit underscored the shared vision of both nations to drive sustainable economic growth and innovation, emphasizing the need for increased trade, investment, and collaboration in vital industries including renewable energy, technology, construction, and logistics. Both sides expressed optimism about the potential for joint ventures and investments that would benefit their economies and enhance private sector engagement.

MENAFN08092025000049011007ID1110032952