Minister for Rural Development Sándor Fazekas and Minister for Agriculture Fahad bin Abdulrahman Balghunaim discussed the establishment of a Hungarian-Saudi holding during their meetings in Budapest on Monday. The joint venture, set up with state participation, would deal with cattle breeding, plant cultivation and poultry breeding.

Hungarian-Saudi co-operation may be significantly developed after talks between Prime Minister Viktor Orbán and King of Saudi Arabia Abdullah bin Abdel-Aziz last year created a sound political basis for such improvement. With reference to the discussions, Sándor Fazekas stated that he sees opportunities for the commencement of joint projects in the fields of both bioenergy and feed production. His Saudi colleague added that Saudi Arabia is a country with little fresh water, and so has an interest in broadening agricultural co-operation with Hungary. He indicated that Saudi agriculture is counting on utilizing the results of the Hungarian agriculture sector, among the best in the world.

Sándor Fazekas noted that his Saudi counterpart has especially recommended the Saudi Investment Development Agency, which also deals in foreign investments. The Hungarian Minister added that to further the improvement of relations, Hungary wishes to establish a trading house. However, he noted that the working out and running of concrete co-operative ventures would be the task of the two countries' businessmen.

Fahad bin Abdulrahman Balghunaim invited Sándor Fazekas to visit Saudi Arabia, an invitation which was cordially accepted with thanks.

(MTI / Press Office of the Ministry of Rural Development)