Hungarian-Uzbek business forum: 29 business leaders arrived in Tashkent as part of the Hungarian delegation

With there being no unresolved issues between Hungary and Uzbekistan, all the conditions are in place for advancing bilateral economic relations, Péter Szijjártó, the minister of foreign affairs and trade, said in Tashkent on Tuesday, highlighting the commitment of the governments of both countries towards that goal.

According to a ministry statement, the strategic partnership between the two countries is based on mutual respect, and business players should take advantage of the fact that there are no unresolved political issues, either, Szijjártó told a Hungarian-Uzbek business forum.

The minister said he was accompanied on his visit by 29 business executives representing sectors in which Hungarian companies are world leaders, such as agriculture, the food industry, energy, construction, and the chemicals and pharmaceutical industries.

Szijjártó hoped the 173 meetings between Hungarian and Uzbek businesspeople would yield significant results and benefit both countries. He said last year’s record bilateral trade turnover of 100 million euros was a solid foundation for this, adding that turnover has increased by 86 percent since 2010.

The minister said

“flagship projects” like OTP Bank’s presence in Uzbekistan and planned investments by pharmaceutical and food industry companies were of “great help” in developing economic ties.

Underlining the importance of the infrastructural and financial background, Szijjártó said Tashkent has pledged to set up a 50-hectare special investment zone for Hungarian companies, and Hungary is prepared to increase the size of the central Asian investment fund from 50 million to 150 million dollars.

Szijjártó also said a direct flight between Budapest and Tashkent, set to be relaunched on June 30, could also give new impetus to bilateral relations. He noted that Hungary offers 170 scholarships yearly to Uzbek students looking to study at Hungarian universities. He welcomed that bilateral cooperation could, in the future, also expand to nuclear energy.

We wrote about the first part of the day here: Uzbekistan Hungary concludes important new agreements and resumes direct flights, details HERE

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