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Hungary seeks UAE investments in agriculture

Dubai: A Hungarian official is visiting the United Arab Emirates this week to boost the profile of food agriculture investments ahead of the visit of a UAE delegation to the European country.

Geza Poprady, State Secretary of Public Administration from Hungary’s Ministry of Rural Development, said a mixed government and private UAE delegation will visit Hungary in the next two months.

Poprady has met with officials and company representatives interested in Hungary’s agriculture investment during his vist. He has timed his trip to the UAE with food and beverage industry event, Gulfood, and the World Food Security Summit.

There are 16 Hungarian companies exhibiting at Gulfood this year, of which 50 per cent have attended previous events.

Poprady said Hungary’s food agriculture industry offers an attracting profile to foreign investors, especially to a country such as the UAE that imports 90 per cent of its food products.

He said that 60 per cent of Hungary can be used for farming and food cultivation and that the country produces around 35 per cent of food surplus each year, which is exported.

Figures provided by Poprady’s delegation state that Hungary exported €7.6 million (Dh38.33 million) of food products to the UAE in the first nine months of 2013. Food exports include pet food and corn.

In comparison, Hungary exported €2.1 million in all of 2009.

The agriculture industry contributes five per cent to the Hungarian gross domestic product (gdp) each year, Poprady said.