President Katalin Novák emphasized the importance of strengthening energy and economic cooperation during her visit to the Kingdom of Bahrain on Thursday. Katalin Novák was also received by the King of Bahrain, Sheikh Hamad bin Isa Al Khalifa, with whom she agreed that peace is needed in Ukraine as soon as possible.
Katalin Novák reminded that the Hungarian president visited the Kingdom of Bahrain for the first time. He emphasized: the cultures of the two countries are apparently different, but they are very similar in terms of the protection of traditional values.
Katalin Novák spoke about the Russian-Ukrainian war, which directly affects Hungary, since almost 150,000 Hungarians live in Transcarpathia. He emphasized that Europe needs peace and an end to the war as soon as possible.
Speaking about economic relations, Katalin Novák expressed her joy that a forward-looking cooperation agreement could be reached between the companies of the two countries.
The Hungarian head of state will participate in the presentation of the Bahraini state economic development fund (Economic Development Board, EDB). At the event, which was also attended by the Prime Minister of Bahrain, Katalin Novák, she confirmed that Hungary supports Bahrain's Schengen visa exemption, and on behalf of Mol, Group Deputy CEO Oszkár Világi and the representatives of Nass Corporation and Nogaholding in Bahrain signed declarations of agreement.
State Secretary for Energy Policy and Climate Policy Attila Steiner, who was accompanied by the Head of State, emphasized to the public media that two cooperation agreements were signed in Bahrain between Mol and two Bahraini companies, one for increasing the efficiency of hydrocarbon production, the other for technological solutions.
In Hungary, for example, there are technologies for extracting more hydrocarbons from natural gas fields and oil fields that are already being depleted. In this agreement, Mol can transfer knowledge to the Bahraini party, and based on the technology agreement, the Hungarian company can demonstrate what materials and additives can be used in road construction to increase durability and make traffic quieter.
Attila Steiner pointed out that the countries of the Middle East have a lot of experience in the extraction of hydrocarbons and have large production capacities, so the signing of the agreement is also related to Hungary's diversification efforts.
He added: the advantage of high-level visits is that they highlight where there are opportunities for cooperation, especially in the economic sphere.
Source: MTI
