Sultanate, Hungary open new vistas for bilateral cooperation

MUSCAT: Yusuf bin Alawi bin Abdallah, Minister Responsible for Foreign Affairs, received on Monday Peter Szijjarto, Minister of Foreign Affairs and Trade of the Republic of Hungary.
The meeting reviewed the bilateral relations between the two friendly countries and means of enhancing them in various areas. The two ministers stressed the keenness of the two countries to promote these relations to meet the joint aspirations.
Both sides also stressed the importance of supporting all means to enhance security, stability and peace in the region and the world.
During the meeting, a Memorandum of Understanding on political consultation between the two countries was signed. The MoU was signed from the Omani side by the Minister Responsible for Foreign Affairs, whilst it was signed from the Hungarian side by the Minister of Foreign Affairs and Trade.
The Sultanate welcomed the opening of an embassy in Muscat, a step that will open new horizons of bilateral relations between the two countries and strengthen the joint ties in various areas.

DRAFT INVESTMENT PROTECTION
AGREEMENT DISCUSSED
Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry, too received Peter Szijjarto and his delegation.
The two sides discussed means of promoting cooperation in various trade and economic fields. They also discussed draft agreement on encouragement and reciprocal protection of investments between the two countries, as well as the draft economic and technology cooperation agreement. The Sultanate had signed with the Republic of Hungary the agreement on avoidance of double taxation, which came into effect since 2018.
The two sides also discussed the cooperation potential and benefit from the Hungarian experience in fields of solar energy, wind power and water treatment technology, as well as Hungarian investments in the Sultanate in the oil and gas sector. — ONA