UAE Minister of Energy and Infrastructure Mr. Suhail bin Mohammed Al Mazrouei, and Mr. Peter Szijjarto, Hungarian Minister of Foreign Affairs and Trade have discussed means of increasing bilateral relations between the two countries, in the fields of energy, clean energy, best practices in infrastructure, and housing.
The meeting was held on the sidelines of Expo Dubai 2020, where the two sides also discussed the exchange of expertise and best practices in sustainability, water resources, and transport. Mr. Al Mazrouei praised the relationship between the UAE and Hungary and expressed gratitude to their leadership.
The UAE Energy Minister briefed the Hungarian Minister and his accompanying delegation about the country’s achievements in the light of the ‘Projects of the 50’ which aims to accelerate the UAE’s development and transform the country into a comprehensive hub in all sectors and establish its status as an ideal destination for talents and investors.
Mr. Al Mazrouei also highlighted the UAE’s efforts to increase sustainability and address the climate change problem and its ambitious strategies, including UAE energy strategy 2050, which aims to increase the contribution of clean energy to the total energy mix from 25 percent to 50 percent by 2050 and reduce the carbon footprint of power generation by 70 percent.
Recently, the UAE Ministry of Economy and Hungary signed five preliminary agreements for economic cooperation during the third Joint Economic Committee meeting between the two countries.
The agreements cover the development of cooperation in various areas, including space research and activities, trade, investment, talent attraction, Small and Medium-sized Enterprises (SMEs), water resource management, energy and renewable energy, tourism and culture, logistics, and supply, and education.