Uzbek-Hungarian business forum and cooperation exchange held in Tashkent
14/12/2018 10:03
Uzbek-Hungarian business forum and cooperation exchange held in Tashkent
14/12/2018 10:03
Tashkent, Uzbekistan (UzDaily.com) -- On 13 December, an Uzbek-Hungarian Business Forum was held at the International Hotel Tashkent, organized by the State Committee on Investments of the Republic of Uzbekistan, the Chamber of Commerce and Industry of the Republic of Uzbekistan with the support of the Ministry of Foreign Affairs.
The event was attended by representatives of 18 Hungarian companies, including such as Global Faktor Zrt., Hunbas, MEDITOP Gyógyszeripari Kft., InnovaSter-Trade Kft., Engaged in such areas as light and food industry, pharmaceuticals, animal husbandry, furniture and construction production, and in other directions.
Opening the event, Elyor Ganiyev, Deputy Advisor to the President of the Republic of Uzbekistan and Co-Chairman of the Uzbek-Hungarian Intergovernmental Commission for Economic Cooperation, said: “We hope that this business forum will allow us to carry out thorough preparations for the upcoming meeting of the Intergovernmental Uzbek-Hungarian Commission, which is scheduled to be held on 5-6 March 2019 in Budapest”.
He said that at the same time, the work of the Uzbekistan-Hungary Intergovernmental Commission is distinguished by the fact that it is not so much of an intergovernmental nature as it creates the conditions and basis for the development of cooperation between business representatives of both countries.
“Today, Hungary is one of the steadily developing states of Europe, and we, in turn, are closely following the processes taking place in the country. Hungary has a developed communication infrastructure, there is an active development of the innovation economy. At the same time, despite the existing reliable legal framework between our countries, the level of trade and economic relations does not match the existing potential. All the conditions that have been created in Uzbekistan in the last two years are aimed at removing all barriers for investors and developing trade, economic and investment cooperation with foreign countries,” Ganiev underlined.
In turn, the Ambassador Extraordinary and Plenipotentiary of Hungary Peter Santo noted that Hungarian business circles are interested in enhancing trade, economic and investment cooperation and are considering the possibility of strengthening business ties in various industries.
Currently, 7 Hungarian companies operate in the Republic of Uzbekistan. Following the forum, 6 documents were signed totaling US$46.5 million:
An agreement on implementation of a cluster project in the field of cattle totaling US$30 million was signed between the khokimiyat of Navoi region and the Hungarian company Hunland.
The wide experience of Hungarian and Uzbek agriculture specialists will be implemented in the framework of a joint agreement on establishment of an enterprise for the production of sown seeds of vegetables between Agrologistics Central Asia and Szentesi-Mag Ltd. in the amount of US$10 million.
In addition to seed production, food production is planned under the Agreement on organization of production for processing cucumbers, tomatoes, corn, and other fruit and vegetable products between Hamkorbank, Andijan Exclusive Invest and InnovaSter-Trade Kft for a total of US$3 million.
The fish industry is considered as one of the most promising and an agreement has been reached between Hungarian and Uzbek producers.
Hun-bas Invest Ltd. and Golden Lake Fish signed an agreement on the construction of a complex for growing and processing fish products in Lake Tudacul for a total amount of US$1.6 million. A contract for the supply of fruit processing equipment (for the production of chocolate products) was signed between Andijan Exclusive Invest and Budagep LLC for US$300,000 and a Memorandum between Uzsharobsanoat Holding Company, Shokhrud JSC and Hun-bas Invest Ltd. to create a joint venture for the production of oak barrels in the amount of US$1.6 million.
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