Tashkent, Uzbekistan (UzDaily.com) -- On 29 March 2021, the International Hotel Tashkent hosted a Business Forum and the first meeting of the Uzbek-Hungarian Business Council.

The key topic of the event was the issues of strengthening bilateral ties between the business communities of the two countries, as a decisive factor in the further development of investment and trade and economic Uzbek-Hungarian cooperation.

The event was attended by Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov, Minister of Foreign Affairs and Trade Péter Szijjártó, Chairman of the Chamber of Commerce and Industry of the Republic of Uzbekistan, co-chairman from the Uzbek side of the Uzbek-Hungarian Business Council Adham Ikramov, President of the Hungarian Chamber of Commerce L. Parrag, as well as deputy chairman of the board of "OTP Bank", co-chairman from the Hungarian side of the Uzbek-Hungarian Business Council L. Wolf and representatives of responsible ministries and departments, as well as representatives of business circles of two countries.

During his speech, Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov noted that trade and economic ties and cooperation between the two countries have been actively developing in recent years. He also expressed confidence that today's Business Forum will play a key role in achieving effective results in the future, creating broad and favorable opportunities for the business community of Uzbekistan and Hungary.

Then the Minister of Foreign Affairs and Trade Péter Szijjártó made a speech, where he emphasized the positive dynamics of the development of relations between the two countries. He also noted that the heads of both states pay special attention to the consistent expansion of economic partnership in priority areas for Uzbekistan and Hungary, and also called for the intensification of interaction and cooperation between representatives of the business circles of the two countries.

During his speech, Chairman of the Chamber of Commerce and Industry of Uzbekistan A. Ikramov noted that the chambers of commerce and industry of the two countries also contribute to the expansion of cooperation between the countries. He also drew attention to the fact that the Chambers of Commerce and Industry of both countries need to continue to work on establishing interregional cooperation, deepening industrial cooperation and ensuring favorable conditions for mutual trade in goods and services.

It should be noted that trade, economic and investment cooperation is an important component of bilateral relations between countries.

During the event, representatives of responsible ministries and departments provided detailed information on the work being done to ensure openness and increase the attractiveness of Uzbekistan for foreign investors, measures taken to create a transparent business environment, combat corruption, improve the investment climate and gradually reduce the role of the state in the economy.

A ceremony of signing a number of bilateral documents was also held at the meeting.

Within the framework of these meetings between representatives of the two countries, the prospects for the further development of the Uzbek-Hungarian trade and economic ties and the development of mutually beneficial cooperation in various industries were discussed. In particular, an exchange of views took place on enhancing partnership relations between companies in Uzbekistan and Hungary, operating in the two countries.

An open dialogue made it possible to clearly identify areas of mutual interest for further in-depth interaction, meaning the elaboration of promising projects and agreements and to determine an effective format for interaction between the business circles of Uzbekistan and Hungary.

In turn, the Chamber of Commerce and Industry expressed its readiness to further implement the plans in 2022. aimed at achieving practical results in supporting the business circles of Uzbekistan and Hungary.

On 30 March 2021, at the International Hotel Tashkent, after the first meeting of the Uzbek-Hungarian Business Council, G2B and B2B meetings will be organized between the heads of ministries, departments, industry associations and leading companies of Uzbekistan and Hungary, where the participants were able to substantively discuss issues creating joint ventures and concluding mutually beneficial trade agreements.

As a result of the meetings, a number of bilateral agreements will be signed on the implementation of investment projects in various fields of activity.