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Tashkent hosted the 5th meeting of the Uzbek-Hungarian Intergovernmental Commission on trade, economic, scientific and technical cooperation

On February 18 this year, Tashkent hosted the 5th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (IGC) between Uzbekistan and Hungary, as well as a business forum involving representatives of business circles of the two countries.

Representatives of the Ministry of External Economic Relations and Foreign Affairs of Hungary, the Ministry of Innovation and Technology, the Hungarian and Budapest Chambers of Commerce and Industry, the Hungarian Travel Agency, as well as a large delegation of business representatives participated from the foreign side.

The meeting was co-chaired by Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov and Minister of External Economic Relations and Foreign Affairs of Hungary Peter Szijjarto.

The agenda included issues on further expansion of trade and economic relations, as well as development of mutually beneficial cooperation within investment, financial, technical, scientific, educational, innovative, and tourism areas.

The meeting highlighted promising areas of bilateral cooperation, including individual agricultural sectors, i.e. livestock, animal breeding, fish farming, winemaking, pharmaceutical industry and education, organization of joint educational programs issuing joint degrees and support for Uzbekistan’s universities participating in educational programs of the European Union, such as Erasmus+, Tempus, Horizon 2020.

An open intergovernmental dialogue enabled clear identification of mutual interest to further deeply cooperate in view of elaboration of promising investment projects and trade agreements, as well as effective format for communication at the interdepartmental level.

The meeting of IGC resulted in signing of respective protocol. The forum resulted in signing of a series of bilateral documents, including investment agricultural agreements, a cooperation agreement on interbank financing between the Microcreditbank JSCB and Hungarian Eximbank, as well as agreement on opening of a branch of the University of Debrecen in Tashkent.