Uzbekistan, Hungary maintain growth in economic co-op despite COVID-19

Uzbekistan Materials 18 February 2021 10:38 (UTC +04:00)
Uzbekistan, Hungary maintain growth in economic co-op despite COVID-19

BAKU, Azerbaijan, Feb. 18

By Klavdiya Romakayeva - Trend:

Hungary and Uzbekistan were able to maintain a positive growth trend in economic partnership indicators, Trend reports referring to the Ministry of Investments and Foreign Trade of Uzbekistan.

The Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov, and the Minister of Foreign Affairs and Foreign Economic Relations of Hungary Peter Siyarto discussed Uzbek-Hungarian multifaceted partnership, the implementation of the agreements reached, as well as the current state of preparation for upcoming joint events were considered within the framework of the visit of Uzbekistan’s government delegation to Hungary.

It is reported that the parties expressed their readiness for the consistent expansion of investment, trade, and economic cooperation through the development of new promising areas for interaction.

Also, preconditions for increasing the number of joint investment projects in agriculture, animal husbandry, chemical, pharmaceutical, and food industries were considered during the meeting.

In addition, the sides emphasized that the creation of the Uzbek-Hungarian Business Council will serve to strengthen the business dialogue between the two countries. The parties expressed their intentions to actively use the opportunities and tools of this platform to increase the investment presence of Hungarian entrepreneurs in Uzbekistan.

Furthermore, the Hungarian side voiced its readiness to provide active assistance in the issues of Uzbekistan's accession to the World Trade Organization, Uzbekistan's obtaining the status of a beneficiary country of the General System of Preferences "GSP +", as well as signing an Agreement on expanded partnership and cooperation.

Also, broad prospects for interaction within the platform of the Cooperation Council of Turkic-speaking States, to promote projects and initiatives of common interest were outlined.


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