Finance Minister Mihaly Varga – Photo: MTI

Finance ministry: Qatar key partner for Hungary in Persian Gulf

Qatar could play an important role in strengthening Hungary's energy security, the finance minister said after talks with his Qatari counterpart in Doha.
23. May 2023 16:05

The finance ministry on Tuesday cited Mihaly Varga as saying that similarly to Hungary, Qatar was calling for peace in the Ukraine war as soon as possible and Doha did not support the introduction of sanctions and supplying weapons to warring parties.

Qatar has the third largest natural gas reserves in the world, stands at second place in global LNG exports, and carries out developments in extraction and transports, he said.

Economic relations between Hungary and Qatar are getting stronger, with a 15 percent increase in Hungarian exports to Qatar last year at 69 million dollars, and a 24 percent increase in bilateral trade at 76 million dollars, he added.

Varga held talks with Qatar National Bank CEO Abdulla Mubarak Al Khalifa, presenting Hungary’s debt management strategy and sharing the experiences from Hungary’s green bonds programme.

The sides were in agreement that the current Hungarian prime ministerial visit could give new impetus to Hungarian-Qatari economic relations, the ministry said.

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