Mini-Dubai: All Agreements Now Signed on Rakosrendezo Development Project in Budapest

  • 29 Jan 2025 12:12 PM
Mini-Dubai: All Agreements Now Signed on Rakosrendezo Development Project in Budapest
All the necessary agreements have been signed between Hungary and the United Arab Emirates on Budapest's Rakosrendezo development project and the sides are to extend cooperation to new areas, the foreign minister said in London.

The foreign ministry cited Peter Szijjarto as saying before travelling to the UAE that the two countries were expected to soon see "a breakthrough" in their bilateral ties as a result of the agreements which will result in the creation of a highly new modern city area in the current underdeveloped Rakosrendezo area of Budapest.

"The necessary agreements have been finalised and cooperation could now be extended to new areas," Szijjarto said.

He said the two countries would sign a defence industry cooperation agreement in Abu Dhabi because the UAE was making significant efforts towards innovation and the development of its defence industry.

He added that progress was also being made in cooperation in the food industry. Hungary, Szijjarto noted, has become one of the main cheese exporters from Europe, with the total volume of cheese exports expected to reach 1,000 tonnes this year.

"There are also great propsects in digital developments. Thanks to this, a digital cluster comprised of 16 Hungarian companies has been established in the Gulf area and a Hungarian company is already providing cashless payment services in large music and cultural festivals," he said.

He added that strategic cooperation was also being developed in the area of energy, with Mol and MVM having started strategic talks with local partners about cooperation in renewable and fossil energy.
 

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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