Kazakhstan–Hungary Roundtable breaks new ground in trade and investment

On December 12, 2024, a roundtable titled “Kazakhstan – Hungary: New Trends of Trade and Investment Cooperation” was held in Budapest. The event was organized by the Embassy of Kazakhstan in Hungary in collaboration with Kazakh Invest, supported by HEPA (Hungarian Export Promotion Agency) and the Hungarian Chamber of Commerce and Industry (MKIK). 

The roundtable became a logical continuation of the positive momentum following the state visit of the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, to Hungary on November 19-20, 2024. This visit, which included a meeting between the Head of State and leaders of Hungary’s top companies, was a significant milestone in strengthening Kazakh-Hungarian relations. Related article: PM Orbán meets Kazakh President Tokayev

“Strong economic and cultural ties bind our countries. Today’s event is a key step toward strengthening mutual cooperation, creating new investment projects, and building a strategic partnership”,

said Abzal Saparbekuly, Ambassador of Kazakhstan to Hungary.

During the roundtable, key topics were discussed, including the development of infrastructure and logistics, joint projects in the agro-industrial complex, nuclear energy, digital transformation, and opportunities in education.

Hungarian companies actively cooperating with Kazakhstan, such as MOL Group, UBM Group, L.A.C. Holding, Elitmag, Alfaseed, MVM Group, and I-Cell, were highlighted. These companies are already implementing successful projects in energy, logistics, agriculture, and digital technologies.

“Kazakhstan has become one of our most active and valuable partners in Central Asia. The foundation of our successful cooperation lies in two key factors: mutual respect for the past and a shared aspiration for the future. Kazakhstan is making impressive progress in innovation, sustainable development, and financial technologies, creating a strong basis for our continued partnership”, emphasized Dr. Csaba Kandrács, Deputy Governor of the Hungarian National Bank.

“Collaboration with Kazakhstan opens unique opportunities for Hungarian entrepreneurs. We are proud to contribute to the development of joint projects and the strengthening of economic ties between our countries”, said Gábor Jenei, CEO of HEPA.

“The projects we are implementing jointly with Kazakhstan in logistics and infrastructure not only strengthen trade connections but also contribute to the development of new transport routes between our countries”, noted László Horváth, President of L.A.C. Holding.

Many companies expressed their willingness to expand their presence in Kazakhstan and plan to introduce innovative technologies into joint projects.

“Kazakhstan is a strategic partner in the agro-industrial sector. The country’s opportunities, resources, and government support make Kazakhstan a unique destination for investments”, said Péter Horváth, CEO of UBM Group.

“The agro-industrial sector is not just business but the key to food security. Kazakhstan has already established itself as an agricultural hub in Central Asia, and in the next 5-7 years, we will witness this position strengthening even further”, noted András Sándorfy, Managing Director of Elitmag.

Dávid Békési, Director General of International Relations and Development of the Hungarian University of Agricultural and Life Sciences (MATE), said in his speech that they are open to cooperation with foreign universities in the field of education, as they already have a relationship with a Kazakh university.

Dávid Békési, Director General of International Relations and Development of the Hungarian University of Agricultural and Life Sciences (MATE). Kazakhstan-Hungary Roundtable 2024. Source: Kazakhstan Embassy, Budapest

He stressed that MATE welcomes foreign students who want to study in Europe, and of course, they also welcome students from Kazakhstan to take the knowledge they have gained here back home after graduation.

László Vasa, an expert from the Hungarian Institute of International Affairs, contributed to the discussion by offering an analytical perspective on the prospects for bilateral partnership.

As the Organizers said, this roundtable confirmed the mutual interest of Kazakhstan and Hungary in deepening their partnership, opening new horizons for economic cooperation. More than 70 participants, including government officials, leading companies, and experts from Kazakhstan and Hungary, attended. Mátyás Kohán, a foreign policy observer for the Hungarian weekly Mandiner, moderated the event.

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