Kazakhstan, Hungary to activate mutual cooperation

By Azernews

By Abdul Kerimkhanov

Kazakhstan and Hungary have agreed to intensify cooperation in the following sectors: trade and investment, finance, agriculture, tourism, education, energy, culture, etc.

The 6th meeting of the Kazakh-Hungarian intergovernmental commission on economic cooperation was held in Budapest. The delegation of Kazakhstan was headed by the Minister of National Economy Timur Suleimenov, the delegation of Hungary by the Vice Prime Minister, Minister of Finance Mihai Varga.

Kazakhstan and Hungary agreed, in particular, to exchange information on the existing opportunities for export-oriented products in the countries, to organize a trade mission of Kazakh producers in Hungary in 2019.

In addition, the parties agreed to establish a working group for cooperation in the field of nuclear energy. Thus, countries intend to cooperate in the field of peaceful nuclear research, including the study of nuclear technologies, radiation protection, as well as training and exchange of experience in this field.

The Hungarian side also supported the proposal to develop mutually beneficial cooperation in the field of creating joint seed farms in Kazakhstan. Hungary will share with Kazakhstan a methodology developed in the field of seed certification and the growing process.

At the same time, Kazakhstan has declared its readiness to consider the possibility of applying Hungarian technologies for the collection and recycling of industrial and household waste.

Parties also recognized the need to intensify cooperation in the field of water management. The members of the commission agreed to cooperate in the mutual promotion of business, medical, ecological and ethnographic tourism.

According to the Statistical Committee, foreign trade turnover between the countries increased by 38.2 percent in 2017 and amounted to $ 156.5 million. Exports from Kazakhstan to Hungary increased 2.7 times to $ 39.2 million, imports to Kazakhstan from Hungary increased by 18.6 percent and totalled $ 117.3 million.

In 1992, Hungary became one of the first states to recognize the independence of Kazakhstan, and in 1993, the first diplomatic representation of Kazakhstan in Central and Eastern Europe was opened in Budapest.

Kazakhstan and Hungary celebrated the 25th anniversary of diplomatic relations on March 23, 2017.

Relations between Kazakhstan and Hungary are characterized as strategic. A solid legal base, successful activities of the Strategic Council, intergovernmental commissions on trade, economic and legal cooperation, as well as inter-parliamentary friendship groups contribute to the deepening interaction between the two countries.

Over the quarter century of partnership, trade and economic relations have been actively developed, a number of joint economic projects have been successfully implemented, a joint agricultural direct investment fund has been created, and the Hungarian Trading House opened in Astana. Among the major investors in Kazakh economy is the Hungarian oil and gas company MOL.