Uzbek president approves agreement on economic cooperation with Hungary
Uzbekistan, Tashkent, March 12 / Trend D. Azizov /
Uzbek President Islam Karimov approved the Uzbek-Hungarian intergovernmental agreement on economic cooperation.
The agreement was signed in Tashkent in November 2011 within Hungarian President Pal Schmitt's visit to Uzbekistan.
The Uzbek President instructed the Foreign Ministry to send a notification about Uzbekistan's execution of the internal procedures required for this international treaty to enter into force.
According to the agreement on economic cooperation, it is envisaged to form an intergovernmental committee, consisting of the representatives of relevant state agencies and companies, and covering almost the entire range of the Uzbek-Hungarian cooperation in trade and investment sphere.
At present, seven companies with Hungarian investors operate in Uzbekistan, including five joint ventures and two - with full Hungarian capital. The representative offices of five Hungarian companies were accredited under the Ministry of Foreign Economic Relations, Investments and Trade.
Uzbekistan and Hungary express mutual readiness to contribute to an increase in the volume of bilateral trade, the expansion of the whole complex of trade-economic and investment cooperation, more actively use the accumulated experience in this field.
The parties' interest in the diversification of investment and cooperative cooperation through the implementation of specific projects in the fields of energy and energy conservation, medicine, logistics, chemical, pharmaceutical, textile and processing industries, and other promising areas of the economy was stressed during the Hungarian President's visit.