Uzbekistan, Hungary consider establishing Uzbek-Hungarian Business Council
BAKU, Azerbaijan, Nov. 27
By Klavdiya Romakayeva - Trend:
Uzbekistan and Hungary agreed to consider the possibility of an early signing of an agreement on the establishment of the Uzbek-Hungarian Business Council as a platform for strengthening and expanding ties between representatives of the business circles of the two countries, Trend reports citing Ministry of Investments and Foreign Trade of Uzbekistan.
Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakova, and Minister of Foreign Economic Relations and Foreign Affairs of Hungary Peter Szijjarto discussed the epidemiological situation in the two countries and measures taken to prevent the spread of coronavirus infection.
Potential areas of investment cooperation aimed at creating joint ventures for the production of products with high added value were discussed and priority tasks for further deepening industrial cooperation were noted.
Currently, Uzbekistan with Hungarian partners has begun the implementation of 37 investment projects of industrial cooperation in the fields of agriculture, animal husbandry, poultry farming, processing of agricultural products, as well as textile, pharmaceutical, and food industries.
Also, positive trends in mutual trade were noted, which made it possible to significantly increase the volume of trade between Uzbekistan and Hungary following the results of 10 months of this year.
In this vein, ministers considered specific measures to further expand bilateral trade, ensure its diversification and balance, including by organizing mutual trade missions, opening trading houses, and organizing exhibitions of products of Uzbek and Hungarian manufacturers in both countries.
In addition, the parties discussed further steps aimed at enhancing the activities of the Uzbek-Hungarian Intergovernmental Commission on Trade and Economic Cooperation, the next meeting of which is scheduled to be held in January 2021 in Budapest, Hungary.
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