Hungary Steeling Multi-Sectoral Ties With Uzbekistan, Turkmenistan Ambassador (Exclusive Interview)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 8. Hungary continues to actively strengthen its ties with Uzbekistan and Turkmenistan across multiple sectors, Ambassador of Hungary to Uzbekistan and Turkmenistan József Rózsa told Trend in an exclusive interview.

Cooperation between Hungary and Uzbekistan

"Hungary and Uzbekistan are actively enhancing their collaboration across multiple industries, with current projects and more initiatives under consideration. The primary emphasis in agriculture is on initiatives with animal husbandry and food processing, with ongoing negotiations over a potential poultry project involving significant participation from Hungarian enterprises. The two nations are investigating partnerships in horticulture, dairy, and fisheries, focusing on the exchange of skills and technologies. In the pharmaceutical industry, advanced joint ventures are being formed to manufacture cutting-edge medical devices. Hungarian companies are contributing to Uzbekistan's automotive sector by providing components, and there are proposals to establish special economic zones to improve production and export prospects," he said.

The ambassador highlighted the potential for Hungarian enterprises to engage in agricultural initiatives in Uzbekistan, emphasizing strategic opportunities in poultry clusters and cutting-edge food processing facilities, and these initiatives are integral to the overarching strategy aimed at revolutionizing Uzbekistan's agricultural landscape and amplifying its food production potential.

"The participation of Hungarian enterprises will provide advanced technologies and agricultural methodologies to Uzbekistan, therefore modernizing the nation's agricultural sector. This encompasses the implementation of innovative techniques for animal husbandry, the establishment of food safety regulations, and the optimal utilization of resources, especially in poultry and horticulture. Enhancing production quality and capacity will enable Uzbekistan to more effectively supply processed and fresh products to a wider array of foreign markets, including Europe," he said.

He believes that these initiatives could provide hundreds of employment opportunities in rural regions of Uzbekistan. Furthermore, Hungarian enterprises are anticipated to offer training and capacity-building initiatives for local laborers, enhancing competencies in contemporary agricultural and processing methodologies.

"Overall, the involvement of Hungarian agricultural enterprises will significantly advance Uzbekistan's objectives to diversify its economy and establish a prominent position in the global agricultural market," József Rózsa emphasized.

The ambassador said that Hungarian OTP Bank's establishment in Uzbekistan signifies a substantial advancement in the financial sector, with prominent intentions to modernize and digitize banking services. OTP Bank is anticipated to implement sophisticated digital banking technologies to improve customer experience and optimize operations inside Uzbekistan's financial sector. The bank is enhancing online banking systems, mobile banking applications, and further digital financial services. This will likely encompass additional functionalities such as remote account management, online loan applications, and digital payment systems, enhancing ease for Uzbek consumers and enterprises.

The Ambassador believes that the collaboration aims to strengthen Uzbekistan's fintech ecosystem by integrating digital payment solutions, contactless payments, and e-wallets. This is in line with the broader trend of digitalization in Uzbekistan, where there is a growing emphasis on modernizing financial infrastructure.

He noted that there are also plans to develop data-driven products, such as personalized banking services, leveraging big data and AI to cater to the unique financial needs of Uzbek customers. This is expected to boost financial inclusion and provide more tailored banking solutions. These initiatives will likely enhance financial inclusion in Uzbekistan by providing more accessible and efficient banking services, fostering the country's ongoing digital transformation.

"Hungary positions itself as a key partner in improving Uzbekistan's connectivity to Europe and global markets, particularly through aviation and logistics initiatives. Hungary, through Wizz Air (Hungary's low-cost carrier), has already launched flights between Samarkand/Tashkent and Abu Dhabi, and discussions are ongoing about expanding these routes. This is part of a broader plan to establish more direct air links between Uzbekistan and European destinations, improving both passenger and cargo traffic. Uzbekistan's Qanot Sharq Airlines recently launched its direct flights between Tashkent and Budapest. The service began on June 30, 2024, with flights once a week on Sundays. This route aims to boost tourism, business travel, and cultural exchange between the two countries," he said.

"Hungary's contribution to enhancing Uzbekistan's air connectivity is central to its strategy connecting the country with European and global markets, with aviation playing a critical role in trade, tourism, and logistics," he added.

Hungary-Turkmenistan relations

"Hungary and Turkmenistan have been steadily enhancing their trade and economic ties, with several significant initiatives and agreements planned for the future. The main areas of cooperation include energy, agriculture, healthcare, and education, with a strong focus on expanding mutual trade and investment opportunities," said Rózsa, emphasizing the importance of the agreement signed between the governments for the promotion and reciprocal protection of investments.

He added that this emphasis on mutual investments comes as Hungary and Turkmenistan look to diversify their cooperation across key sectors. A notable milestone in these relations was the official visit of Hungarian Prime Minister Viktor Orbán to Ashgabat in June 2023.

"Several agreements were signed during this visit to enhance science, education, and diplomatic training. These include programs like the Stipendium Hungaricum, which allows Turkmen students to study in Hungary, and the promotion of bilateral academic and scientific exchanges," he said.

The ambassador expressed the expectation for the nations to enhance their cooperation in healthcare, agriculture, and the humanities while also fortifying their diplomatic training and cultural collaboration.

Additionally, both countries are exploring potential collaborations in green hydrogen technology.

"Hungary and Turkmenistan have expressed mutual interest in exploring hydrogen production technologies, building on Hungary's expertise in this area and Turkmenistan's growing interest in sustainable energy," added the ambassador.

MENAFN08112024000187011040ID1108864548