Uzbekistan and Hungary Deepen Strategic Partnership Through High-Level Talks in Budapest

Budapest, The Gulf Observer: President of the Republic of Uzbekistan Shavkat Mirziyoyev and Prime Minister of Hungary Viktor Orbán held comprehensive negotiations at the Carmelite Palace in Budapest, focusing on strengthening the strategic partnership and expanding multifaceted cooperation between the two nations.

The high-level talks, conducted both in a contracted format and with the participation of official delegations, highlighted the steady progress in bilateral relations and the intensification of practical cooperation across various sectors.

President Mirziyoyev expressed sincere gratitude to the Hungarian leadership for the warm hospitality extended to the Uzbek delegation. He noted with satisfaction the productive engagement between the two countries at the levels of parliaments, governments, sectoral agencies, and regions. Close collaboration was also observed within international frameworks, including the United Nations and the Organization of Turkic States.

Economic cooperation featured prominently in the discussions. The leaders noted a steady growth in mutual trade and underlined the importance of increasing bilateral trade turnover to €500 million in the initial stage. This target will be supported through import substitution initiatives, the effective use of Uzbekistan’s “GSP+” status, accreditation of laboratories in line with EU standards, the launch of a pre-certification program for exports, and the establishment of a joint platform to support exporting enterprises.

The investment dimension of the partnership was marked by significant achievements. The current joint investment portfolio stands at $500 million, with new projects totaling €1.5 billion prepared for this visit. The recent entry of Hungary’s OTP Bank into Uzbekistan’s financial market was hailed as a key milestone, signaling growing confidence from European investors. Agreements were reached to further expand OTP Bank’s financial instruments, including the creation of a joint company for auto lending and the launch of a business support program.

Further collaborative projects include the development of a poultry cluster in Uzbekistan’s Syrdarya region and a series of new initiatives agreed upon during a business forum earlier in the day. These projects span the modernization of transport infrastructure, construction of highways and logistics centers, development of utility networks, and manufacturing across sectors such as textiles, chemicals, pharmaceuticals, construction materials, digital technologies, and aquaculture.

To accommodate growing industrial cooperation, a special industrial zone for European companies is being established in Uzbekistan, to be managed by the Hungarian operator Inpark.

The two sides agreed to prepare an Investment Partnership Program for adoption at the next session of the Uzbekistan–Hungary Intergovernmental Commission, to be held in Budapest this July. A proposal was also made to reactivate the Uzbekistan–Hungary Business Council and convene its next meeting with expanded participation from the business community.

Cultural and humanitarian cooperation received significant attention. The leaders welcomed recent initiatives, including the unveiling of a bust of Alisher Navoi in Lakitelek and the hosting of Uzbek Film Days in Budapest. A proposal was put forward to designate the coming year as the Year of Uzbek and Hungarian Culture. Preparations are ongoing for staging the ballet “Lazgi” at the Hungarian State Opera and organizing an exhibition of Uzbek culture at the Museum of Ethnography in Budapest.

Educational cooperation will continue under the “Stipendium Hungaricum” program, with discussions underway on introducing dual degree programs and establishing branches of Hungarian universities in Uzbekistan. In this context, the proposal to host the third Uzbekistan–Hungary Rectors’ Forum in Tashkent later this year was welcomed.

The two leaders also exchanged views on pressing regional and international issues, reaffirming their commitment to cooperation in combating terrorism, extremism, drug and human trafficking, and other transnational threats. Relevant ministries were instructed to develop a joint roadmap to ensure implementation of the agreements reached.

At the conclusion of the talks, President Shavkat Mirziyoyev extended an official invitation to Prime Minister Viktor Orbán to pay a return visit to Uzbekistan.