BAKU, Azerbaijan, July 17
By Ilkin Seyfaddini – Trend:
Hungary's OTP Bank plans to enter the market of Uzbekistan, Trend reports citing the Ministry of Investment and Foreign Trade of Uzbekistan.
Prospects of opening the bank in the country were discussed at the meeting of Deputy Prime Minister of Uzbekistan Sardor Umurzakov with Hungarian Foreign Economic Relations and Foreign Affairs Minister Peter Szijjarto in Tashkent.
The sides underscored the significant progress made in boosting mutual trade have shown a confident 40 percent growth against the same period last year.
In this context, the parties stressed the importance of joint work on implementing the Road Map to bring the trade turnover with Hungary to $100 million, which was agreed upon at the meeting of the two heads in October 2019. Prospects of establishing an Uzbek-Hungarian trade house in Hungary have also been discussed in this context.
Concrete steps have been outlined in the development of partnership in banking and financial sector and such topics as opening the Hungarian OTP Bank in Uzbekistan, as well as opportunities for joint projects involving the Eximbank of Hungary have been discussed.
“Uzbekistan is ready to expand interaction in the Uzbekistan-Hungary EU format within the framework of promoting the EU's Strategy on Central Asia, as well as to actively cooperate within the agreement on expanded partnership and cooperation between Uzbekistan and the EU, which will help bring Uzbek-European relations to a qualitatively new level,” the message said.
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