Skip to Content

Kazakhstan interested in joint agricultural projects with Hungary

by October 17, 2016 Legal

Astana hosted the 5th session of the Kazakh-Hungarian Intergovernmental Commission for Economic Cooperation.

Opening the session, Minister of National Economy Kuandyk Bishimbayev noted that the leading Hungarian companies are successfully operating in Kazakhstan. There are about 50 joint ventures in Kazakhstan today, and there is an interest to increase the number.

One of the examples of successful cooperation is the launch of Kazakh-Hungarian investment fund of direct investments that was established to finance investment projects of agro-industrial complex. It is a really important event for us, especially for agricultural field that has a considerable potential, the Minister said.

K. Bishimbayev expressed hope that the first positive outcomes of the fund activities will be presented on the next meeting.

Kazakhstan is interested in implementing the agro-processing projects. We are ready to export grain and clean meat. Our regions have reserves for implementation of joint projects on producing the cereals, grain processing, on constructing the broiler plant, the Minister said.

The Minister closed the speech by noting a significant development potential between Kazakhstan and Hungary, he also expressed the confidence in successful implementation of agreements that will enhance bilateral trade and economic cooperation.

The Minister of National Economy of Hungary Mihaly Varga expressed in his turn readiness for broader and closer cooperation with the Republic of Kazakhstan.

Kazakhstan is considered a strategically important partner of Hungary in Central Asia. Kazakhstan is a bridge for us between Europe and Asia, the Hungarian Minister said.

The session was marked with signing the Memorandum of Understanding between the Ministry of Health and Social Development of Kazakhstan and the Ministry of National Economy of Hungary in the field of employment, as well as the Memorandum on Cooperation between the Treasury Committee of the Ministry of Finance of Kazakhstan and the Hungarian State Treasury.

Source: Government of the Republic of Kazakhstan