Tashkent’s International Business Center played host to a forum of businesspeople from Uzbekistan and Hungary on April 29.

Tashkent’s International Business Center played host to a forum of businesspeople from Uzbekistan and Hungary on April 29.

The event was attended by heads of ministries and other government agencies, companies and corporations of the two countries responsible for foreign economic ties, commercial, investment, export-import, financial and banking, fuel and energy, agricultural and water management spheres, food industry, manufacturing electric goods and construction materials, healthcare, pharmaceuticals, marketing, insurance, information technologies, small business and public utilities management.

The first deputy minister for foreign economic relations, investments and trade of the Republic of Uzbekistan Ibrohim Ergashev said that the cooperation between Uzbekistan and Hungary has been advancing steadily across all fields.

Hungary is one of Uzbekistan’s active partners in the European Union. Economic relations between our two nations are built on a range of intergovernmental agreements pertinent to trade-economic and scientific-technical partnership, mutual protection and stimulation of investments, avoiding double taxation, as well as international automobile transportation of passengers and shipping of cargoes.

The two countries enjoy a most-favorable-nation regime in trade.

Uzbekistan’s steadily developing economy, the wide opportunities and privileges for doing business, as well as the preferences guaranteed by the law have been heightening the interest of businesspeople from abroad, including Hungarian entrepreneurs, in enhancing interaction with our country.

“Uzbekistan is Hungary’s major and important partner in Central Asia,” said Laszlo Sabo, deputy minister of foreign affairs and trade of Hungary. “This country’s economy has been progressing with sustainable rates. The business forum will facilitate the discovery of new prospects and further development of our cooperation in all spheres.”

The Hungarian entrepreneurs were detailed at the forum about the economic potential of our country, the terms and conditions for setting up joint ventures, opportunities in the industrial zones of Navoi, Jizzakh and Angren. The discussions also covered the investment climate in Hungary.

The participation of a number of major companies of Hungary in the forum is suggestive of the tremendous interest of that country in the development of cooperation with Uzbekistan. Representatives of such companies as Envisys Investment, Aquis IT Services, Fit-Food, HND Stahl, Land Bau, Logsol, Umirs Europe, and Maxima Food said that they intend to establish and expand their activities in our nation.

Later that day, a cooperation exchange took place with the participation of a range of firms and enterprises from Uzbekistan and representatives of business circles from Hungary. Participants secured deals for the export of goods and services produced in Uzbekistan.