Economy minister at talks to strengthen Kazakh-Hungarian economic ties

Economy Minister Mihály Varga held talks in Astana on Friday on ways to further strengthen Hungarian-Kazakh economic ties.

Varga travelled to Kazakhstan for the opening of a Hungarian pavilion at Expo 2017 Astana on Saturday.

The minister told the press that he had met counterpart Timur Suleimenov to make preparations for the next session of the intergovernmental mixed committee, to be held in Budapest in 2018. The Hungarian-Kazakh trade turnover increased by 16 percent last year and by 30 percent in the first three months of this year compared to the corresponding period of 2016, he said.

The government wants to see Hungary as a springboard for Kazakh businesses wishing to trade with Europe, primarily central Europe. Further, Hungary is eager to carry out its central Asian investments through Kazakhstan, Varga said.

Hungary and Kazakhstan maintain traditionally good relations in the areas of pharmaceuticals, energy, agriculture and food processing, the minister said, adding that he expects the Expo starting on Saturday to establish the conditions for new cooperation in electromobility.

New projects are expected to be launched in agriculture and finance with the help of an agriculture investment fund and a financial fund set up earlier, he said.

Kazakhstan is to establish a financial centre to attract financial investments to central Asia in a 2,000 km radius. Varga said the Hungarian government will help Hungarian companies, banks and financial institutions use this opportunity, an issue raised during his talks with the governor of the Astana International Finance Centre Kairat Kelimbetov.

Photo: MTI

Source: MTI