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Tuesday, September 21st, 2021

Trade turnover between Kazakhstan and Hungary reached 80 mn dollars since 2016

by October 17, 2016 Key Issues

“To date, 50 joint ventures with contributed Hungarian capital successfully operate in Kazakhstan, which mainly includes the construction, trade and manufacturing sectors. The countries have a great potential for expanding trade and economic cooperation, which is not used to the full,” T. Zhaksylykov said.

Thus, according to Deputy Minister, the volume of foreign trade turnover between Kazakhstan and Hungary amounted to 102 million dollars in 2015, while the results of 8 months of this year – about 80 million dollars. The conditions for the development of fruitful cooperation were created, a strategic council between the two countries was established, an intergovernmental commission on economic cooperation, business advice, as well as a joint fund to finance agriculture projects in the amount of 40 million dollars operates. The main elements of a bilateral treaty of the international legal framework in the field of economy were formed.

“We hope that the agreements reached during the business forum will give a new impetus to the expansion of trade-economic and investment cooperation. We believe that there are great opportunities for the revitalization, development of cooperation in energy, pharmaceuticals, engineering, communications, agricultural machinery, agriculture and the food industry,” T. Zhaksylykov said.

Kazakh-Hungarian business forum focused on the continuation and strengthening of trade-economic and investment cooperation between Kazakhstan and Hungary. Traditional bilateral meeting between Kazakh and Hungarian entrepreneurs will be held within the forum, the prospects of cooperation in such sectors as pharmaceuticals, medical equipment, agriculture, engineering, food processing, logistics, ICT and others will be discussed there.

Source: The Prime Minister of Kazakhstan