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04/October/2022   Economic Diplomacy

Budapest hosts Uzbekistan – Hungary Business Forum

TASHKENT, October 4. /“Dunyo” IA/. Budapest hosted Uzbekistan – Hungary Business Forum. It was attended by businesspeople from the two countries, reports “Dunyo” IA correspondent.


The opening ceremony of the forum was attended by Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Jamshid Khodjayev and Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó.

Péter Szijjártó noted the positive dynamics in the development of relations between the two states and the Hungarian government’s support for initiatives to consistently enhance economic partnership in priority areas for both countries, and also called on Hungarian business representatives to establish and strengthen interaction with Uzbekistan entrepreneurs.

The Uzbek side emphasized the favorable conditions created in the country for doing business, including a visa-free regime, the liberalization of foreign exchange policy, the adoption of a new Development Strategy aimed at further stimulating entrepreneurial activity, ensuring the protection of investor rights, and the inviolability of private property.

Hungarian companies were provided with detailed information on investment opportunities, including in pharmaceuticals, agriculture, as well as electronics and electrical engineering, textile, automotive, chemical and construction industries.

G2B and B2B meetings were also organized between the heads of ministries, agencies, industry associations, banks and leading companies of Uzbekistan and Hungary. The participants worked out in detail the aspects of creating joint ventures and concluding mutually beneficial trade agreements.

Following the forum, several bilateral documents, investment agreements and export contracts were signed.

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