Economy cooperation with Turkic countries benefits Hungary, says minister

Hungary’s foreign policy strategy of opening to the East has proven to be successful over the past ten years, with economic cooperation with the Turkic countries greatly benefiting the country’s national economy, the foreign minister said in Istanbul on Monday.

Hungary’s exports to member states of the Turkic Council, Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey and Uzbekistan, have increased by 77 percent and the volume of trade with these countries has doubled during the period, Péter Szijjártó said at a joint press conference with Baghdad Amreyev, the secretary general of the Turkic Council.

Hungary’s exports to the Council’s countries this year have gone up by 43 percent, Szijjártó said, adding that all of the country’s increasing exports had greatly contributed to achieving its economic growth target.

The foreign minister said

Hungary will join the alliance of Turkic Chambers of Commerce and Industry which will hold its next business forum in Budapest in September.

Hungary will also participate in the setting up of a Turkic Investment Fund and a Turkic Development Bank, he said.