Direct flights connecting the capitals of Uzbekistan and Hungary are set to commence in the latter half of 2023, as disclosed by Hungary’s Minister of Economic Development, Marton Nagy, on April 27 at the II Tashkent International Investment Forum. The gathering attracted over 2,000 international business representatives, including company leaders, funds, esteemed economists, and specialists.

“The connection between the two countries, despite the 4,000 km separating them, will become even closer and more significant in the near future,” said Marton Nagy, adding that direct air links that economic relations between the countries.

He also noted that during the last meeting of the Uzbek-Hungarian intergovernmental commission on economic cooperation, the sides discussed opportunities for expanding cooperation in textile, food, agricultural, pharmaceutical and chemical industries.

Hungary has also expressed readiness to share experience with Uzbekistan in artificial intelligence technology and drone production.

Implementation of the nine planned investment projects has already begun, said Marton Nagy. “Hungary and Uzbekistan have not only business cooperation but also personal friendship,” he concluded.

On the margins of the forum, Marton Nagy was received by President of Uzbekistan Shavkat Mirziyoyev, the press service of the head of state said.

The sides discussed priority measures to develop trade and economic cooperation between the two countries, with a special focus on radical expansion of cooperation at the business and regional level.

budapest, hungary, tiif

The parties stressed the importance of launching direct air links in the coming months, agreeing on conditions and launching the platform for deeper industrial cooperation as soon as possible.

According to the press service, work on the preparation and implementation of projects in agriculture, pharmaceuticals, transport and communications, and the creation of effective financial instruments will be accelerated.

As a reminder, Uzbek embassy was opened in Budapest at the end of March.

In February Peter Szijjártó, Minister of Foreign Affairs and Foreign Economic Relations of Hungary, announced that Hungary was creating a special industrial zone near Tashkent, where Hungarian companies would have a special legal status to make investments in such spheres as food industry, agriculture, nuclear industry, production of medicines and medical equipment and construction industry. In addition, Hungary’s largest bank, OTP, has acquired Ipoteka Bank in Uzbekistan.