In 2022, the volume of trade exchange between the State of Qatar and Hungary reached about $77mln
Doha, Qatar: Relations between the State of Qatar and Hungary are based on decades of friendship, mutual respect, and the sharing of many social and humanitarian values. The two countries have a common and firm belief in the importance of maintaining international peace and stability, settling disputes through dialogue and peaceful means and having an active and influential role in this matter at the regional and international levels.
In the context of these principles and as an embodiment of its noble goals, the official visit of President of Hungary Katalin H E Novak to Doha aims to discuss bilateral relations between the two countries and ways to support and enhance them in various fields, as well as review the most important and current international issues of mutual interest.
It is expected that President of Hungary H E Katalin Novak’s visit to Doha will further contribute to improving relations between the State of Qatar and Hungary in many fields as well as launch new horizons of cooperation thus servicing the goals, aspirations and common interests of the two countries and their friendly peoples.
The Qatari-Hungarian relations go back to 1990 when they were established at the level of non-resident embassies. Relations witnessed a major shift in 2004 with the opening of the two countries’ embassies, representing the keenness to develop relations between the two sides and build bridges of cooperation and joint work, which even grew stronger during the past years.
The relations have grown in many fields and have reached an unprecedented level thanks to high-level visits exchanged between the two sides and the signing of a number of agreements and memorandums of understanding (MoU) in the fields of politics, commercial, industry, culture, art, tourism, sports, air services, energy, economics, business, education, higher education and scientific research, as well as avoidance of double taxation and prevention of financial evasion.
These relations were consolidated after the important official visit made by HH the Father Amir Sheikh Hamad bin Khalifa Al-Thani to Hungary on June 12, 2002, while the first visit of a Hungarian president to the State of Qatar was by HE former President of Hungary Janos Ader in May 2014.
When it comes to recent visits between the State of Qatar and Hungary, the most prominent was the Amir H H Sheikh Tamim bin Hamad Al Thani’s official visit to Hungary in August last year, during which His Highness discussed with President of Hungary H E Katalin Novak and HE Prime Minister of Hungary Viktor Orban cooperation relations between the two countries and ways to strengthen and advance them, notably in the economy, investment and energy fields, as well as discussing the most prominent regional and international topics and developments of mutual interest.
H H the Amir and H E Prime Minister of Hungary also witnessed the signing of an agreement and a number of MoU and cooperation agreements between the governments of the two countries in environmental protection, diplomatic training, youth and sports and agriculture.
Following the visit of HH the Amir to Budapest, the State of Qatar and Hungary announced that they had raised the level of bilateral relations between the two countries to the level of a strategic one.
HE Prime Minister of Hungary Viktor Orban also recently made several visits to Doha, the most recent of which was in May 2023, where he expressed his country’s intention to raise its relationship with Doha to a strategic level to become one of its most important political and economic partners.
In a previous interview with Qatar News Agency (QNA), H E Orban affirmed that in light of the growing cooperation relations between the two countries over the past two decades, Hungary is keen to build a strategic partnership with the State of Qatar in various fields.
His Excellency said that the Qatari-Hungarian relations are witnessing steady growth as the two countries are keen to strengthen it in various fields to serve the interests of the two peoples, underlining several strategic areas of cooperation that represent a priority in the next stage, including energy, agriculture, security, military, infrastructure and especially air transport, in addition to cooperation in the security and military fields. Mutual visits at all levels and agreements signed between the State of Qatar and Hungary contributed to bringing the countries’ business communities and investors together.
In July 2023, Budapest hosted the third session of the Qatari-Hungarian Joint Economic Committee. The session discussed cooperation in various key sectors such as trade, investment, construction, infrastructure, agriculture, maritime transport, civil aviation, health, education and information technology.
The State of Qatar and Hungary also agreed during the third session to take the necessary steps to move forward in consolidating trade and investment cooperation between the two countries with the aim of increasing the volume of trade exchange and facilitating the flow of goods, services and investments.
Last March, a round of political consultations was held in Budapest between the Foreign Ministries of the State of Qatar and Hungary where they discussed cooperation relations between the two sides and ways to support and enhance them.
With their interest in developing economic and trade relations and exploring broader horizons for intra-trade, the prospects for cooperation between the State of Qatar and Hungary appear promising in the future. In 2022, the volume of trade exchange between the State of Qatar and Hungary reached about USD 77 million, showing that the two countries are still far from utilizing all the trade opportunities and capabilities available.
Hungary is actively seeking to attract more foreign investments, especially as it is rich in many natural resources, the most important of which are: bauxite, coal, iron ore, manganese, natural gas and oil. It exports machinery, equipment, agricultural products, food and livestock, and mainly imports fuel and mineral raw materials.
Source: Zawya
