At the negotiations with the chairman of the Commerce and Industry Chamber of Uzbekistan Alisher Shaikhov, the sides considered expansion of partnership relations between the business and financial circles of the two countries.

In 2007 mutual trade between Uzbekistan and Hungary made up US$ 32.4 million. A number of Uzbek-Hungarian joint ventures operate in Uzbekistan, and several of the Hungarian companies have their offices in the country.

In the framework of the Hungarian minister’s visit to Tashkent, an Uzbek-Hungarian business forum and a cooperation exchange were held in the capital.

"We signed an agreement on avoiding double taxation with Uzbekistan," János Veres told journalists. "Uzbekistan and Hungary have huge opportunities for development of cooperation in many fields, including pharmaceutics, processing agricultural products, chemical industry and construction."

"We considered concrete projects. I believe our economic cooperation will develop further," the minister added.