UAE, Hungary discuss cooperation in technology and innovation

UAE Minister of Economy, Sultan bin Saeed Al Mansouri, yesterday met with President of the National Research, Development and Innovation Office of Hungary, Jozsef Palinkas, in Budapest, and discussed with him ways to enhance cooperation, particularly in the areas of energy, renewable energy, smart and sustainable cities and transport.

Al Mansouri, who is currently heading a UAE business delegation to Hungary, emphasised the importance of cooperation to drive innovation and to provide effective solutions to boost energy and water security, to address climate change and to promote sustainability.

Meanwhile, Al Mansouri and his accompanying delegation visited the Hungarian National Assembly and the Islamic Arts Museum in Budapest.

UAE's trade with Hungary stood at US$ 720.9 million in 2013, while it reached US$ 289.2 million in the first half of 2014. The two countries have signed various agreements which included an air transport agreement, avoidance of double taxation agreement, in addition to an agreement for economic and technical cooperation which was signed earlier this week during Al Mansouri's visit.