The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.

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Hungarian President to discuss regional and international issues in Uzbekistan

6 November 2011

www.trend.az of 11/6/2011 - Hungarian President Pal Schmitt will pay an official visit to Uzbekistan on November 6-8 at the invitation of Uzbek President Islam Karimov, Uzbekistan National News Agency reported.

The issues of expanding and strengthening the cooperation between the two countries will be discussed during the visit. The urgent regional and international issues will be also discussed.

The Uzbek-Hungarian business forum is planned to be held during the visit.

The bilateral documents aimed at intensifying the cooperation between the two countries are planned to be signed.

The indices of bilateral trade turnover between Uzbekistan and Hungary for 2010 amounted to $36.5 million, including export - $8.6 million, import - $27.8 million. The figure was $23.24 million during eight months of 2011. Uzbekistan exports fertilizers, textile products, services and other products to Hungary. The country imports pharmaceutical products, mechanical equipment, optical devices, apparatus and other products.

Uzbekistan and Hungary express interest in increasing bilateral trade volumes, expanding the whole complex of trade-economic and investment cooperation, wide using of existing potential. Both countries are also interested in the diversification of investments in energy, medicine, logistics, chemical, pharmaceutical, electrical, textile and processing industries and other perspective areas of the economy.

At present, there are seven companies with Hungarian investors in Uzbekistan, including five joint ventures and two - with Hungarian capital. Five Hungarian companies were accredited under the Ministry for Foreign Economic Relations, Investments and Trade.