The 9th meeting of the Uzbek-Hungarian Intergovernmental Commission on Economic Cooperation was held in Tashkent
Political
In Tashkent, the 9th session of the Uzbek-Hungarian Intergovernmental Commission on Economic Cooperation took place today. This was reported by the press service of the Ministry of Investments, Industry, and Trade of the Republic of Uzbekistan.
It is reported that the meeting was attended by heads of ministries, departments, industry associations, commercial banks, educational institutions, and diplomatic missions of both countries.
The co-chairs of the meeting were the Minister of Investments, Industry, and Trade of the Republic of Uzbekistan, Laziz Kudratov, and the Minister of Foreign Affairs and Trade of Hungary, Peter Szijjarto.
During the session, issues related to further development of cooperation in investment, industrial, trade, economic, banking and financial, and cultural-humanitarian spheres were discussed and agreed upon.
The importance of developing proposals to replace costly imports from third countries, organizing Road Shows for Uzbek producers in major cities of Hungary, was emphasized.
The significance of diversifying transport routes, liberalizing permits for bilateral and transit transportation, resuming direct flights between Tashkent and Budapest, and organizing a logistics hub for Uzbek products in Hungary was underscored.
Special attention was paid to investment cooperation projects. Hungarian companies OTP Group, Joyson Safety Systems, Bonafarm are successfully implementing projects worth almost $500 million in Uzbekistan. Active work is underway to create a special economic zone for Hungarian companies and an office of the Central Asian Investment Fund for Direct Investments. Plans have been outlined for implementing joint investment projects with comfortable conditions in sectors such as the chemical industry, pharmaceuticals, agribusiness, real estate construction, and fisheries.
Following the meeting, a Memorandum on further cooperation in the field of education and a final protocol reflecting all the agreements reached, as well as agreed projects and initiatives, were signed.
The co-chairs of the meeting were the Minister of Investments, Industry, and Trade of the Republic of Uzbekistan, Laziz Kudratov, and the Minister of Foreign Affairs and Trade of Hungary, Peter Szijjarto.
During the session, issues related to further development of cooperation in investment, industrial, trade, economic, banking and financial, and cultural-humanitarian spheres were discussed and agreed upon.
The importance of developing proposals to replace costly imports from third countries, organizing Road Shows for Uzbek producers in major cities of Hungary, was emphasized.
The significance of diversifying transport routes, liberalizing permits for bilateral and transit transportation, resuming direct flights between Tashkent and Budapest, and organizing a logistics hub for Uzbek products in Hungary was underscored.
Special attention was paid to investment cooperation projects. Hungarian companies OTP Group, Joyson Safety Systems, Bonafarm are successfully implementing projects worth almost $500 million in Uzbekistan. Active work is underway to create a special economic zone for Hungarian companies and an office of the Central Asian Investment Fund for Direct Investments. Plans have been outlined for implementing joint investment projects with comfortable conditions in sectors such as the chemical industry, pharmaceuticals, agribusiness, real estate construction, and fisheries.
Following the meeting, a Memorandum on further cooperation in the field of education and a final protocol reflecting all the agreements reached, as well as agreed projects and initiatives, were signed.
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