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 that the keenness on building a partnership between the two countries serves the interests of their peoples.
The Hungarian minister said that Oman’s decision to open an embassy in Budapest represents a turning point in the bilateral relations as it boosts 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 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 held in Muscat last Tuesday.
The Hungarian minister pointed out that the two countries are considering the possibility of striking a deal in energy sector, as Hungary seeks to include Oman's gas in the Hungarian energy imports by 2026. Oman and Hungary are also considering cooperation in the field of water management, added the minister.
The Hungarian minister also spoke of the cooperation between OQ and the Hungarian National Oil Company in the field of renewable energy and the use of new chemical products 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, said 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 launching direct flights between Muscat and Budapest, as this will contribute in completing the efforts made by both countries to develop bilateral relations. He pointed out that a Hungarian tourism company will organise charter flights between Budapest and Salalah between November 2023 and 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. — ONA
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