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7November
2018
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The Abu Dhabi Chamber signs MoU with HCCI to strengthen mutual economic cooperation



His Excellency Ibrahim Al Mahmoud, 1st Deputy Chairman of the Abu Dhabi Chamber, received the Hungarian delegation chaired by His Excellency Ferenc Miklóssy, 1st Vice-President of the HCCI, at the Chamber’s Tower in Abu Dhabi. 




His Excellency Osama Naffa, Ambassador of Hungary to the UAE, attended the meeting as well along with a group of businessmen and businesswomen who represent the business community in Abu Dhabi.




The signed MoU emphasized on enhancing economic and trade cooperation between the UAE and Hungary by exchanging experiences, supporting trade relations, and developing mechanisms to increase trade and investment partnerships between the businesses which share the same interests.

 





The Abu Dhabi Chamber of Commerce and Industry has signed a memorandum of understanding (MoU) with the Hungarian Chamber of Commerce and Industry (HCCI) during a business meeting with a visiting trade delegation from Hungary.

His Excellency Ibrahim Al Mahmoud, 1st Deputy Chairman of the Abu Dhabi Chamber, received the Hungarian delegation chaired by His Excellency Ferenc Miklóssy, 1st Vice-President of the HCCI, at the Chamber’s Tower in Abu Dhabi. 

His Excellency Osama Naffa, Ambassador of Hungary to the UAE, attended the meeting as well along with a group of businessmen and businesswomen who represent the business community in Abu Dhabi.

The signed MoU emphasized on enhancing economic and trade cooperation between the UAE and Hungary by exchanging experiences, supporting trade relations, and developing mechanisms to increase trade and investment partnerships between the businesses which share the same interests.

In a welcoming remarks, at the beginning of the meeting, Al-Mahmoud emphasized on the importance of developing economic relations between the two countries and increasing trade cooperation with the aim of materializing the visions of the political and economic leaderships in each of the UAE and Hungary.

Al-Mahmoud pointed to the agreement which the UAE and Hungary signed in September 2015 concerning economic cooperation between the two countries in the Hungarian capital Budapest, saying that the agreement included articles to solidify investment, economic and trade relations between the two sides through joint committee. 

“The agreement also included cooperation on different levels and channels, especially in scientific research, training, small and medium enterprises and starting joint projects in a number of sectors including trade, industry, tourism and agriculture among others,” he said.

The Deputy Chairman added that the agreement is the basis for a solid and strong economic, trade and investment relations and achieves a strategic partnership in different economic sectors between the UAE and Hungary.

Al-Mahmoud remarked that the meeting with the Hungarian delegation is a great opportunity for Emirati and Hungarian businessmen and businesswomen to materialize a good and fruitful cooperation, especially that the UAE can be a gateway for central European countries, including Hungary, to enter the GCC and the Middle East considering its distinguished geographical location, excellent investment climate, encouraging economic environment for investment, abundant financial capabilities, strong purchasing powers and stable and encouraging markets.

“On the other hand, Hungary can form a gateway for the UAE to central European countries considering its agricultural and industrial capabilities. Therefore, the Abu Dhabi Chamber supports the measures of the private sector and its initiatives to benefit from such opportunities and environments,” he said.

For his part, H.E. Ferenc Miklóssy, 1st Vice-President of the HCCI, praised the distinguished relations between the UAE and Hungary, saying that it increased considerably over the past years. He expressed high hopes that hope they can attract large international companies as well as investors from the UAE in the near future.

“We are very grateful for the Abu Dhabi Chamber of Commerce and Industry and Embassy of Hungary for supporting this event and also giving us the opportunity to further develop economic and trade relations between our countries,” he said.




For his part, H.E. Ferenc Miklóssy, 1st Vice-President of the HCCI, praised the distinguished relations between the UAE and Hungary, saying that it increased considerably over the past years. He expressed high hopes that hope they can attract large international companies as well as investors from the UAE in the near future.

“We are very grateful for the Abu Dhabi Chamber of Commerce and Industry and Embassy of Hungary for supporting this event and also giving us the opportunity to further develop economic and trade relations between our countries,” he said.