Kazakhstan and Hungary implement new joint projects
In the first seven months of this year, the volume of trade between Kazakhstan and Hungary reached US$79 million. To date, this European state is a key partner of Kazakhstan in Eastern Europe. According to the Ministry of National Economy, Hungary has invested US$226 million in the domestic economy in the last 10 years alone. There are 29 companies with Hungarian capital and 41 joint ventures in the country. Kazakhstan and Hungary are in constant dialogue on expanding economic cooperation. Thus, following a business forum held in Nur-Sultan, the parties concluded eight partnership agreements. This will give new impetus to economic cooperation between the two countries.
“For instance, that was signed for an agreement in the agricultural sector, a great and a big Hungarian agricultural company make an agreement to our Kazakh partners and of course, in the pharmaceutical sector because the pharmaceutical sectors from Hungary doubled the quantity of the export in 2020. So these agreements help us and support the activity and of course, a good sign for other businessmen who are wait and see. I think the vaccination programme in Kazakhstan and also in Hungary create a more moderate situation for the economy and we can make more business,” said Mihaly Varga, Hungarian Deputy Prime Minister and Finance Minister.
Translation by Assem Zhanmukhanova
Editing by Saule Mukhamejanova