BAKU, Azerbaijan, Feb. 17
By Klavdiya Romakayeva - Trend:
Uzbekistan and Hungary considered the prospects for the entry of Hungarian OTP Bank Group into the banking services market of Uzbekistan through the privatization of one of the Uzbek commercial banks, Trend reports citing the Ministry of Investments and Foreign Trade of Uzbekistan.
The mentioned issue was discussed by the Deputy Prime Minister, Minister of Investments and Foreign Trade of Sardor Umurzakov, the President of the Chamber of Commerce and Industry (CCI) of Hungary Laszlo Parragh, and the Chairman and Executive Director of OTP Bank Group Sandor Chanyi within the framework of the visit of the government delegation of Uzbekistan to Hungary.
The parties have identified priority areas of joint work to create conditions for successful cooperation of entrepreneurs of the two countries in such promising areas as animal husbandry, agriculture, chemical, pharmaceutical, and food industries.
It was noted that an agreement was reached on joint work to attract potential partners from among Uzbek and Hungarian entrepreneurs and investors to cooperation.
In addition, the parties agreed on the relevance of implementing joint measures to increase the volume of trade by organizing mutual trade missions, exchanging lists of products in demand in the markets of the two countries, and encouraging Uzbek and Hungarian entrepreneurs to actively participate in industry exhibitions and fairs held in Uzbekistan and Hungary.
The Hungarian side noted positive trends in the development of the financial market of Uzbekistan and the additional opportunities opening up in this regard to attracting foreign investors. T
In turn, the Uzbek side provided information on the large-scale reforms carried out in the banking sector, the measures being taken to liberalize the foreign exchange market, privatize Uzbek commercial banks with a state share, as well as expand access to banking services.
In this context, special attention was paid to the prospects for the entry of Hungarian OTP Bank Group into the banking services market of Uzbekistan through the privatization of one of the Uzbek commercial banks, as well as issues of bilateral interaction in this direction.
OTP Bank Group is one of the largest independent financial service providers in Central and Eastern Europe with a full range of banking services for private individuals and corporate clients. OTP Group comprises large subsidiaries, granting services in the field of insurance, real estate, factoring, leasing and asset management, investment, and pension funds. The bank is serving clients in 10 countries, namely Hungary, Bulgaria, Serbia, Romania, Croatia, Ukraine, Montenegro, Albania, and Russia.
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