OTP Uzbekistan

History

2020: Plans of opening

The bank Hungary OTP Bank is going to enter the market Uzbekistan. The prospects of opening bank in the country were discussed at a meeting of the deputy prime minister Uzbekistan S. Umurzakov with the minister of external economic relations and foreign affairs of Hungary P. Szijjarto of century Tashkent. It became known on July 16, 2020.

The significant progress made in increasing mutual trade only according to the results of 5 months 2020 indicators of a goods turnover was emphasized show steady 40 percent growth in relation to the same period of 2019.

In this context on a mutual basis the importance of collaboration in implementation of the Road map on finishing a goods turnover with Hungary to 100 million dollars which was approved according to the results of a meeting of heads of two states within the meeting of the Council of Cooperation of the Turkic-speaking States (CCTSS) in October, 2019 was emphasized.

Also in this context perspectives of creation of the Uzbek-Hungarian trading house in Hungary were discussed. Specific steps in development of partnership in the banking and financial sector were planned the prospects of opening of the Hungarian OTP of Bank in Uzbekistan and also opportunities for implementation of joint projects with attraction of financial resources of Eximbank of Hungary were discussed.

Progress in work on rapprochement of business communities of two countries for July, 2020 was separately mentioned approval of the draft document on creation of the Uzbek-Hungarian business council is complete. Activity of this structure will be directed to further strengthening of interaction between business communities of Uzbekistan and Hungary. It was declared determination of Uzbekistan for expansion of interaction in a format of Uzbekistan-Hungary-EU within promotion of Strategy of the European Union across Central Asia and also to active interaction within approval of the Agreement about expanded partnership and cooperation (SRPS) between Uzbekistan and the EU that will allow to bring the Uzbek and European relations to qualitatively other level^[1].

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