Kazakhstan, Hungary To Join Forces To Increase Mutual Trade

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, November 21. Kazakhstan and Hungary will join forces to increase mutual trade, Trend reports.

The Minister of Foreign Affairs of Kazakhstan, Murat Nurtleu, and the Minister of Finance of Hungary, Mihály Varga, agreed on this during the 6th meeting of the Kazakh-Hungarian Strategic Council.

The parties talked about current bilateral concerns in the political, trade, economic, investment, cultural, and humanitarian areas.

The ministers agreed that trade and economic cooperation between Kazakhstan and Hungary is the primary driver of the two countries' strategic alliance. In this context, the parties agreed on the importance of properly utilizing the potential of the Intergovernmental Commission on Economic Cooperation and intensifying cooperation between Kazakhstani and Hungarian business circles.

Murat Nurtleu emphasized the significance of taking real actions to broaden the scope of collaboration between Astana and Budapest.

In turn, Varga said that Hungary is a reliable partner for Kazakhstan in the EU.

The parties also discussed issues of practical implementation of the agreements reached during the visit of Hungarian Prime Minister Viktor Orban to Kazakhstan. The ministers reached agreements to join forces in implementing large joint projects, diversifying, and increasing mutual trade. In turn, Kazakhstan confirmed its intention to increase the range of export goods by 95 items in the amount of about $700 million.

The trade turnover between Kazakhstan and Hungary amounted to $172 million in 2022. From January through October 2023, trade turnover amounted to $140 million, which is 22 percent more than the same period last year.


Trend News Agency

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