Prospects of cooperation development between Uzbekistan and Hungary discussed

Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev held video-conference meeting with Minister of Economic Development of Hungary Marton Nagy on 17 October.

During the talks, positive dynamics of bilateral relations between the two countries, which was considerably promoted by the visit of the leader of Uzbekistan to Hungary in early October, have been pointed out.

The parties discussed practical aspects of implementation of existing agreements, with particular attention paid to the analysis and elaboration of measures to accelerate the execution of 42 documents worth $1.2 billion signed between Uzbekistan and Hungary. In particular, the sides considered prospects of implementing joint investment projects in agriculture, automotive industry, pharmaceuticals, banking and finance, transport and logistics, as well as cooperation in digitalization of water management processes.

In particular, the sides agreed on organizing a visit of representatives of Hungarian companies Bona Farm, Master Good and Kite for a detailed study of projects on creation of poultry farming clusters, intensive horticulture and fruit and vegetable processing, RABA and Joison Safety Systems for arrangement of supplies of components for automotive industry, Meditop, Femfelgozzo, Gideon Richter for creation of high-tech pharmaceutical enterprises for production of innovative drugs, medical furniture and medical equipment.

Prospects of interaction in banking and financial sphere have been discussed, and the sides considered a possibility of establishing a joint Uzbek-Hungarian investment fund and agreed on boosting projects with OTP Group.

Aspects of bilateral cooperation in transport and logistics have been addressed separately. The sides welcomed the successful launch of Samarkand-Abu Dhabi direct flights with Wiz Air and discussed the issue of a joint carrier with participation of Uzbek investors. An agreement has been reached to expedite the signing of an intergovernmental agreement on air communication.

In the field of digitalization of water resources management processes it has been agreed to develop a comprehensive action plan and intensify cooperation between relevant scientific institutions.

As a result of the negotiations, the parties have expressed their commitment to continue joint work and take concrete practical measures for the implementation of road maps and programmes for the practical implementation of projects in the discussed fields of cooperation.