Hungarian-Kazakh treasury cooperation starts

Details of Hungarian-Kazakh cooperation in treasury affairs were discussed by experts from the two countries on Wednesday, the economy ministry said.

The development of treasury systems, the exchange of good practices, and the experiences gained about information systems supporting budget planning and implementation were in the focus of talks, the statement showed. József Dancsó, the head of the Hungarian State Treasury, said this was the first important step towards identifying the concrete directions for cooperation between the Hungarian and the Kazakh treasuries.

Abel Berczik, deputy state secretary in charge of the treasury, said at the meeting that a modern information system that meets the challenges of the current era is crucial for the implementation of budget policy, the statement said. He added that the Hungarian government is ready to share its experiences in the successful operation of the treasury system.

Antal Nikoletti, deputy state secretary in charge of economic relations and sustainable economic development, said that the strengthening of Hungarian-Kazakh links is demonstrated by the more than three-fold increase in trade in the first half of this year compared to the same period of last year. The continual expansion of bilateral economic cooperation, especially the current Astana Expo, is expected to further boost Hungarian-Kazakh ties, he added.

A letter of intent on the mutual development of treasury systems was signed at the Hungarian-Kazakh economic cooperation intergovernmental committee’s 5th plenary session in Astana last October.

As we wrote, last time the Hungarian foreign minister visited in Astana, where he said, Hungary’s main opportunities for advancing ties with Kazakhstan lie in the oil industry, agriculture and water management.