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Jun 08, 2016

Hungary moves forward on nuclear energy deal with Saudi Arabia

Hungary is ready to cooperate with Saudi Arabia and the partnerships between the two countries have enhanced political and economic relations

Attila Aszódi, Hungary's commissioner for nuclear affairs, announced that Hungary is ready to cooperate with Saudi Arabia in the field of nuclear industry, noting that the partnerships between the two countries have enhanced political and economic relations.

Aszódi told Asharq Al-Awsat newspaper that Hungary has made remarkable steps in the nuclear energy-related industries, but the lack of needed infrastructure in the Kingdom halted any joint efforts in this field. Yet, nuclear cooperation between Riyadh and Budapest can take place in the future, he added.

The commissioner noted that the possible dangers rising from nuclear energy should not obstruct any investment in it, adding that they can overcome these dangers by adopting a good structure, safe equipment, and reach a settlement on the legal system and infrastructure to benefit from a nuclear energy program for peaceful use.

He also stressed the importance of providing the needed long-term training for the staff working in this field.

Commenting on the Saudi Vision 2030 that emphasized the use of nuclear development for peaceful use and for power generation, Aszódi said that the Saudi vision is ambitious and will push the Kingdom toward a major cooperation with developed countries in the field of nuclear industry.

Aszódi believes the future of cooperation between Riyadh and Budapest is promising in different fields, and that Hungary looks forward to cooperation in the technology of nuclear industry along with economic cooperation.

Budapest has enhanced its economic and political relations with Saudi Arabia and the mutual trade grew by 50 percent during the five past years.  

Saudi Arabia and Hungary have established a joint business council to enhance their economic cooperation, and have signed an agreement that allows both countries to benefit from industrial-related privileges including fully-equipped industrial zones, energy authorizations, provision of raw materials, and banks to support industrial exports.

During the Arab-Hungarian Business Forum held in Riyadh in 2014, they also signed a number of memorandums of understanding concerning the building of a trade tower in Jeddah and the establishment of the Riyadh metro, in addition to cooperation in tourism.