Jordan, Hungary explore enhancing economic cooperation, enhancing trade ties

AMMAN — The Jordanian-Hungarian Joint Committee convened its fourth session in Amman on Thursday to explore avenues for expanding bilateral economic cooperation, with a particular focus on increasing trade volume and leveraging investment opportunities across multiple sectors.

Minister of Industry, Trade and Supply Yarub Qudah said the committee meeting reflects the mutual commitment of Jordan and Hungary to boost collaboration in trade, investment, and other economic domains.

Qudah emphasised Jordan’s interest in advancing its economic relations with Hungary, particularly amid ongoing global political and economic challenges, the Jordan News Agency, Petra, reported. 

He noted that the relatively short interval since the committee’s last session underscores the “strength and continuity” of bilateral ties at the political, governmental and grassroots levels.

Qudah called for translating these "robust" relations into "concrete" economic outcomes by enhancing trade figures, activating signed memoranda of understanding , and transitioning towards implementation across priority sectors, notably energy, mining and environmental sustainability.

He also stressed the importance of fostering private sector engagement and establishing dynamic linkages between Jordanian and Hungarian businesses, pointing to "untapped" opportunities across regional markets. 

He highlighted Jordan’s strategic geographic position, noting that foreign investment in Jordan requires collaborative efforts with capable institutional and private-sector partners an area where Hungary’s experience and capacities are highly valued.

In regards to education, Qudah praised Hungary’s initiative to provide 400 scholarships annually to Jordanian students over the next three years, describing the programme as a "vital" tool for cultural exchange and long-term bilateral engagement.

Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto stressed his country’s commitment to deepening economic relations with Jordan, calling for regular exchanges between business delegations and institutional stakeholders. 

He underlined the importance of maintaining economic cooperation that reflects the high level of political coordination between the two nations.

Szijjarto commended His Majesty King Abdullah for his role in promoting regional stability, highlighting the significance of the Hashemite Custodianship of Islamic and Christian holy sites in Jerusalem and Jordan’s efforts in promoting interfaith coexistence.

He also noted Jordan’s unwavering stance against extremism and its commitment to peace and conflict de-escalation, positioning the Kingdom as a "key" partner in advancing shared values.

The Hungarian minister proposed the establishment of a bilateral business forum before the end of the year and extended an invitation for a Jordanian business delegation to visit Hungary for direct talks with Hungarian companies.

Szijjarto reaffirmed Hungary’s "strong" support for the comprehensive strategic partnership between the European Union and Jordan, expressing confidence that such cooperation serves the mutual interests of both sides, despite occasional internal challenges within the EU that delay trade negotiations.