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Mar 30, 2021

FM praises Hungary’s decision to open to the East

The high level of economic and trade cooperation between Hungary and Uzbekistan truly vindicates Hungary’s decision to launch the policy of opening to the East.

 

The foreign minister said the high level of economic and trade cooperation between Hungary and Uzbekistan truly vindicates Hungary’s decision to launch the policy of opening to the East.

Before the founding session of the Hungarian-Uzbek business council, Péter Szijjártó, Minister of Foreign Affairs and Trade, said that although the world economy and global trade experienced a slump last year, trade with Uzbekistan increased by an unprecedented rate of 38 percent, exceeding 115 million US dollars.

Minister Szijjártó said preparations are under way for a major joint project involving the use of Hungary’s Heller-Forgó indirect dry cooling system in a nuclear power plant that is being constructed in Uzbekistan. The project would boost Hungarian exports to well in excess of 200 million euros.

The minister added that Hungary will soon launch four agricultural and food industry investment projects totalling 150 million dollars for the production of vegetable oil and animal feed, and for upgrading cattle breeding in Uzbekistan.

Finally, ever since Uzbekistan eased the rules for registering Hungarian medicines, Hungarian pharmaceutical sales there have amounted to 60-70 million dollars each year, the minister said, adding that Richter appeared in Uzbekistan 25 years ago, becoming the 13th largest player in the local market.

Photo credit: Facebook/Szijjártó Péter