Hungary and Uzbekistan to Establish Special Economic Zone

Hungary and Uzbekistan to Establish Special Economic Zone

Hungary and Uzbekistan will establish a special industrial zone near Tashkent, Hungarian minister of foreign affairs and trade Péter Szijjártó announced after the meeting of the Hungarian-Uzbek Mixed Inter-governmental Economic Cooperation Committee in Budapest on Thursday, The Budapest Times newspaper reported.

During the joint press conference with Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov, the Hungarian minister said that the special economic zone will further strengthen cooperation between Hungary and Uzbekistan.

Hungarian minister Péter Szijjártó noted that Hungarian companies are preparing to enter the Uzbek market with projects in the pharmaceutical, agricultural, and food industries. He also said that a capital fund will soon be established to support their investments in Central Asia.

Szijjártó also said that Central Asia was becoming increasingly important “midst of new geopolitical and global economic realities”.

Minister Szijjártó stated Central Asia's pivotal role in trade cooperation with European Union (EU) and called for strengthening ties between the EU and Central Asia during the joint press conference held with Kyrgyz foreign minister, Jeenbek Kulubaev, in Budapest on Monday.

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