Deputy Prime Minister for Investment and Foreign Economic Relations and Minister of Investment and Foreign Trade of the Republic of Uzbekistan H.E. Sardor Umurzakov paid an official visit to Hungary on 16-17 February 2021. Prime Minister Viktor Orbán received the Deputy Prime Minister Umurzakov in his office on 16 February where Parties discussed protection against the coronavirus epidemic and developing economic links between Uzbekistan and Hungary.
On February 17, the Hungary-Uzbekistan Business Forum was organized with the participation of the Minister of Foreign Affairs and Trade of Hungary H.E. Péter Szijjártó and the Deputy Prime Minister for Investment and Foreign Economic Relations and Minister of Investment and Foreign Trade of the Republic of Uzbekistan H.E. Sardor Umurzakov. Representatives of 18 companies from Uzbekistan and 35 companies from Hungary also took part in the forum.
Opening the Hungary-Uzbekistan Business Forum in Budapest, the Foreign Minister Péter Szijjártó said Hungary is the world's 92nd country in terms of its population, and the 34th largest exporter, having exported 100 billion euros of goods annually over the past three years. Hungary – Uzbekistan trade rate grew by 78 percent last year and exceeded 100 million dollars, he noted.
Péter Szijjártó said a focus of Hungarian foreign policy is to boost cooperation between fast-growing regions of Central Asia and Central Europe. He noted that Hungary takes its Observer Status at the Turkic Council seriously and opening of a Representation Office in Budapest is beyond symbolism, but a demonstration of Hungary’s respect to the common cultural and historical roots with the Turkic countries, which allows now to build stronger economic and business ties.
Minister Szijjártó said business ties between the two countries will be strengthened thanks to decisions made during the visit of the Uzbek delegation to Budapest. Hungarian EXIM Bank is opening a USD 100 million credit line to provide support for Hungarian-Uzbek business ties, and the government is offering 100 scholarships to Uzbek students who choose to study at the Hungarian universities.
Minister Szijjártó said political and economic cooperation between the two countries is at an all-time high. Uzbekistan sent 650,000 facemasks to Hungary during the novel coronavirus epidemic, which was key to ensuring the safety of healthcare staff.
The Deputy Prime Minister Sardor Umurzakov said Uzbekistan’s economy has performed well despite the pandemic and stressed that he hopes that year 2021 will build a solid foundation for Hungarian-Uzbek relations. With an irreversible and complex economy modernization reforms that Uzbekistan has embarked on since the leadership of the President of Uzbekistan H.E. Shavkat Mirziyoyev, Hungary is viewed as a reliable partner carrying both moral and physical support in these important times for Uzbekistan. Hungary carries a strong potential to contribute in sectors where two economies can complement each other, such as agriculture, horticulture, water management and renewable energy projects, modernization of electricity network, textile industry, and digitalization. Meanwhile, Hungarian agricultural and pharmaceutical companies are listed among businesses on a fast track to the Uzbek market.
The Executive Director of the Budapest Representation Office said that economic opportunities between Hungary and Uzbekistan are significant and that in enhancing of trade relations between the two countries a special attention should be paid to the development of transport structures between Central Europe and Central Asia. Uzbekistan is a country that needs serious energy resources. Nuclear and solar energy are extremely important for Uzbekistan. Hungary can contribute significantly to help Uzbekistan find new ways in these areas. Water is a great treasure everywhere in the world and especially in Uzbekistan. Mr. Hóvári noted that wastewater of Uzbekistan’s big cities needs to be dealt with, and Hungarian companies can provide with excellent technologies for this. Uzbekistan is not only the ancient homeland of cotton, but also of the most diverse agricultural cultures. It is very important that Uzbek agriculture goes beyond the Soviet-type monoculture and is a food exporter not only to its own people, but also to other countries around the world.
On February 17, the Hungary-Uzbekistan Business Forum was organized with the participation of the Minister of Foreign Affairs and Trade of Hungary H.E. Péter Szijjártó and the Deputy Prime Minister for Investment and Foreign Economic Relations and Minister of Investment and Foreign Trade of the Republic of Uzbekistan H.E. Sardor Umurzakov. Representatives of 18 companies from Uzbekistan and 35 companies from Hungary also took part in the forum.
Opening the Hungary-Uzbekistan Business Forum in Budapest, the Foreign Minister Péter Szijjártó said Hungary is the world's 92nd country in terms of its population, and the 34th largest exporter, having exported 100 billion euros of goods annually over the past three years. Hungary – Uzbekistan trade rate grew by 78 percent last year and exceeded 100 million dollars, he noted.
Péter Szijjártó said a focus of Hungarian foreign policy is to boost cooperation between fast-growing regions of Central Asia and Central Europe. He noted that Hungary takes its Observer Status at the Turkic Council seriously and opening of a Representation Office in Budapest is beyond symbolism, but a demonstration of Hungary’s respect to the common cultural and historical roots with the Turkic countries, which allows now to build stronger economic and business ties.
Minister Szijjártó said business ties between the two countries will be strengthened thanks to decisions made during the visit of the Uzbek delegation to Budapest. Hungarian EXIM Bank is opening a USD 100 million credit line to provide support for Hungarian-Uzbek business ties, and the government is offering 100 scholarships to Uzbek students who choose to study at the Hungarian universities.
Minister Szijjártó said political and economic cooperation between the two countries is at an all-time high. Uzbekistan sent 650,000 facemasks to Hungary during the novel coronavirus epidemic, which was key to ensuring the safety of healthcare staff.
The Deputy Prime Minister Sardor Umurzakov said Uzbekistan’s economy has performed well despite the pandemic and stressed that he hopes that year 2021 will build a solid foundation for Hungarian-Uzbek relations. With an irreversible and complex economy modernization reforms that Uzbekistan has embarked on since the leadership of the President of Uzbekistan H.E. Shavkat Mirziyoyev, Hungary is viewed as a reliable partner carrying both moral and physical support in these important times for Uzbekistan. Hungary carries a strong potential to contribute in sectors where two economies can complement each other, such as agriculture, horticulture, water management and renewable energy projects, modernization of electricity network, textile industry, and digitalization. Meanwhile, Hungarian agricultural and pharmaceutical companies are listed among businesses on a fast track to the Uzbek market.
The Executive Director of the Budapest Representation Office said that economic opportunities between Hungary and Uzbekistan are significant and that in enhancing of trade relations between the two countries a special attention should be paid to the development of transport structures between Central Europe and Central Asia. Uzbekistan is a country that needs serious energy resources. Nuclear and solar energy are extremely important for Uzbekistan. Hungary can contribute significantly to help Uzbekistan find new ways in these areas. Water is a great treasure everywhere in the world and especially in Uzbekistan. Mr. Hóvári noted that wastewater of Uzbekistan’s big cities needs to be dealt with, and Hungarian companies can provide with excellent technologies for this. Uzbekistan is not only the ancient homeland of cotton, but also of the most diverse agricultural cultures. It is very important that Uzbek agriculture goes beyond the Soviet-type monoculture and is a food exporter not only to its own people, but also to other countries around the world.
