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Uzbek-Hungarian Business Forum was held in Budapest on February 17, which brought together businesses of the two countries, the Uzbek Ministry of Investment and Foreign Trade (MIFT) reported.

The Uzbek Deputy PM/Minister of Investments and Foreign Trade Sardor Umurzakov and the Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó took part in the opening ceremony.

The Business Forum also featured G2B and B2B meetings between the heads of ministries, departments, industry associations and leading companies of Uzbekistan and Hungary, where the participants discussed the creation of joint ventures and the conclusion of trade agreements.

A number of bilateral accords were signed at the forum on the implementation of 12 investment projects in Uzbekistan’s provinces in the fields of poultry farming, fish farming, animal husbandry and the food industry. In addition, a joint study of 76 new promising investment projects was agreed, of which partners from the Uzbek and Hungarian sides have already been identified for 26 projects and substantive negotiations are underway.

Cooperation agreements were signed between the Export Promotion Agency under the MIFT and the Hungarian Trade Development Agency, between the Association of Private Tourism Organizations of Uzbekistan (APTO) and the Association of Hungarian Travel Agencies and Tour Operators of Hungary to increase the volume of mutual tourist flows, as well as an agreement on cooperation between the Uzbek Pharmaceutical Industry Development Agency and the Hungarian Pharmacological Cluster to improve the education system in the field of pharmaceuticals.

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