BAKU, Azerbaijan, Mar. 30
By Klavdiya Romakayeva - Trend:
Uzbekistan and Hungary signed a number of bilateral agreements, treaties and agreements, including the implementation of trade and investment projects and the expansion of cooperation in various fields, Trend reports referring to the government portal of Uzbekistan.
It is reported that the agreements were signed at the first meeting of the Uzbek-Hungarian Business Forum and the Business Council held in Tashkent on March 29 within the framework of the visit of the delegation of the Hungarian government to Uzbekistan.
According to the information, the main topic of the event was the strengthening of business ties as a key factor in the further development of investment, trade and economic cooperation between the two countries.
The meeting was attended by Deputy Prime Minister of Uzbekistan, Minister of Investments and Foreign Trade Sardor Umurzakov, Minister of Foreign Affairs of Hungary, Minister of Communications and Foreign Affairs Peter Siarto, co-chairs of the Uzbek-Hungarian Business Council, representatives of relevant ministries and departments and economic entities of the two countries.
It was noted at the meeting that bilateral trade between Uzbekistan and Hungary in 2020 amounted to $109.3 million. The growth rate for this indicator amounted to 53.9 percent compared to the same period last year. Currently, there are 10 enterprises with Hungarian participation in Uzbekistan. In particular, four companies operate on 100 percent foreign capital.
Minister of Communications and Foreign Affairs of Hungary noted the positive growth rates of Uzbek-Hungarian relations. The leaders of the two countries stressed that they are paying special attention to the gradual expansion of the economic partnership.
Hungarian companies were informed about the measures taken to ensure the openness and attractiveness of Uzbekistan for foreign investors, create a transparent business environment, fight corruption, improve the investment climate and gradually reduce the role of the state in the economy.
Representatives of the ministries of finance and agriculture of Uzbekistan, OTP Bank of Hungary, and the Export-Import Bank of Hungary made presentations on their activities. During the forum, entrepreneurs working in various fields presented their products and services to partners and exchanged views on partnership priorities.
“This open dialogue, which made it possible to create a unique and effective format of cooperation between the business circles of Uzbekistan and Hungary, helped the participants to clearly identify mutually beneficial areas, including promising projects and agreements,” the message said.
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