Uzbekistan, Hungary to develop ties in pharmaceuticals, air transportation sectors

Tashkent, Uzbekistan (UzDaily.com) -- During the visit of the Uzbek delegation in Hungary, the Minister of Investments and Foreign Trade Sardor Umurzakov held a meeting with the President of the Chamber of Commerce and Industry Laszlo Parrag.

The main issues of discussion were systemic measures to expand bilateral cooperation between the business circles of Hungary and Uzbekistan. In this regard, the importance of enhancing mutual visits of entrepreneurs was noted, for which the prospect of creating the Uzbek-Hungarian Business Council, whose founders could identify major companies of the two countries, and whose activities will be aimed at promoting promising investment and infrastructure projects, developing proposals trade and investment relationships.

A separate meeting was held with Heins Messinger, the financial director of the Vienna Financial and Economic Forum, which brings together the countries of Europe and the CIS. The sides discussed plans for organizing a number of business events for business circles of Austria and Uzbekistan, including a visit meetings of the Uzbek-Austrian Intergovernmental Commission for Economic Cooperation in Tashkent and the Uzbek-Austrian Investment Forum in Vienna with the involvement of a large Uzbek business under the auspices of the Vienna Financial and Economic Forum.

Relying on the impressive experience in this field, Heins Messinger stressed that the cycle of joint forums will enhance investment attractiveness, integrate financial and product markets, and attract private capital to various projects and programs.

Negotiations with representative Gedeon Richter Tibor Horvath were promising: the organization of pharmaceutical production in Uzbekistan under a well-known Hungarian brand was discussed, and therefore the management of the company agreed on a business visit to Uzbekistan to explore the economic potential and industrial infrastructure pharmaceutical industrial zones, markets for raw materials and the sale of finished products, as well as prospects for its implementation in neighboring countries.

The new phase of cooperation between Tashkent and Budapest is impossible without discussing the potential of creating additional transport corridors, therefore the meeting of the delegation with the head of WizzAir private airline Joseph Varadi should be highlighted.

The airline is the third largest low-cost airline in Europe, operating flights to more than 250 destinations in 29 countries. Noting the attractiveness of direct flights between the capitals of the two countries, Joseph Varadi supported the view that it is necessary to study the civil aviation market of Uzbekistan for a clearer vision of the format and strategy of cooperation. The management of the company will visit Uzbekistan in April-May 2019.