Thursday 27 / June / 2024
Muscat: Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary lauded the bilateral relations between the Sultanate of Oman and the Republic of Hungary.
These relations are based on mutual respect, affirmed the Hungarian Minister, pointing out to the two countries’ keenness on building a partnership that serves interests of their peoples.
The Hungarian Minister told Oman News Agency (ONA) that Oman’s decision to open an embassy in Budapest represents a turning point in the bilateral relations as it will boost their economic and trade ties. The personal presence of a country’s representative always makes a difference when it comes to interaction, affirmed the minister.
He stressed Hungary’s keenness to promote its economic ties with Oman. In this context, he mentioned the Memorandum of Understanding (MoU) signed between Oman and Hungary on low-carbon hydrogen and renewable hydrogen, during the 27th session of Joint GCC-EU Ministerial Council in Muscat last Tuesday.
The Hungarian Minister of Foreign Affairs and Trade pointed out that the two countries are considering the possibility of striking a deal in the energy sector, as Hungary seeks to include the Omani gas in the Hungarian energy imports by 2026. Oman and Hungary also considering the cooperation in the field of water management, added the minister.
The Hungarian Minister also spoke about the cooperation between OQ and the Hungarian National Oil Company in the field of renewable energy and the use of new chemical products in order to make energy operations more effective.
He said that the Hungarian National Oil Company offers solutions called enhanced oil recovery to OQ. With this technology, OQ can extract oil from old oil fields in an efficient and eco-friendly way, explained the minister, who affirmed that the strategic partnership between the two companies represents the cornerstone of economic relations between Oman and Hungary.
The Hungarian Minister stressed the importance of operating direct flights between Muscat and Budapest, as this step will contribute to completing the efforts made by both countries to develop their bilateral relations. He pointed out that a Hungarian tourism company will organize charter flights between Budapest and Salalah during November 2023 to May 2024.
He expressed optimism about the future of trade cooperation between the two countries, as the opening of Oman’s embassy in Hungary and the inauguration of a direct flight between Muscat and Budapest would augment the volume of trade exchange, which stood at $ 60 million last year.
