Kazakhstan, Hungary boost economic ties

22.02.2023, 18:48

Hungary intends to increase imports of Kazakh oil and gas. Chief advisor of the Hungarian Institute for Foreign Affairs and Trade Laszlo Vasa said this in an interview with Silk Way TV channel. According to him, the countries continue to pursue the course of strengthening investment, economic, and cultural ties. Kazakhstan and Hungary have concluded a number of agreements to enhance cooperation in various fields. Referring to the major indicators, in the first 11 months of 2022, the trade turnover between the two countries increased by 30 percent and reached US$160 million. At present, 32 Hungarian and 39 joint ventures are successfully operating in Kazakhstan. Moreover, Hungary and Kazakhstan act as a bridge for the development of relations between Central Asia and the European Union, Laszlo Vasa said.

“Kazakhstan is a very good base for Hungarian companies, for extending their business operation in the region, and the same goes for the Kazakh companies. Budapest is a very good bridge to Europe, while the atmosphere is more closer to the Kazakh lifestyle, than to the Western European lifestyle. So, it seems that this strategic partnership will create real opportunities for our countries in terms of economic issues,” said Laszlo Vasa, Chief Advisor of the Hungarian Institute for Foreign Affairs and Trade.