Bilateral trade between Kazakhstan and Hungary surged to $187.6mn in 2023, representing an 8.9% upswing from the preceding year, the Ministry of Foreign Affairs of Kazakhstan reported.
Deputy Minister of Foreign Affairs of Kazakhstan, Roman Vassilenko, and Deputy Secretary of State of the Ministry of External Economic Relations and Foreign Affairs of Hungary, Adam Stifter, recently convened for the latest round of Kazakh-Hungarian political consultations. The discussions, spanning a wide array of topics, underscored the deepening partnership between the two nations.
The agenda of the meeting encompassed bolstering trust-based political cooperation, expanding mutual trade, implementing joint investment projects, enhancing transport and logistics networks, fostering agricultural collaborations, and fortifying ties in energy and education sectors, among others.
Both parties reiterated the establishment of a stable political dialogue, highlighting mutual understanding of pressing geopolitical issues. Recent high-level visits, including Hungarian Prime Minister Viktor Orban's trip to Astana and meetings with Kazakh President Kassym-Jomart Tokayev, as well as Deputy Prime Minister Murat Nurtleu's visit to Budapest in November 2023, have injected fresh momentum into bilateral cooperation.
Adam Stifter emphasized Hungary's eagerness to further enhance trade and economic cooperation, acknowledging Kazakhstan as Hungary's foremost partner in Central Asia. The parties also updated the list of priority joint business projects and committed to strengthening cooperation across specific economic sectors such as energy, agriculture, and banking.
Particular attention was devoted to Kazakhstan-European Union cooperation, especially considering Hungary's upcoming presidency of the EU Council in the second half of 2024. The Kazakh diplomat expressed confidence in Hungary's successful stewardship during this pivotal period, underscoring its potential benefits for both the European Union and partners like Kazakhstan.
Historical ties and fraternal relations between the two nations were celebrated, with diplomats expressing satisfaction over centuries-old connections. Discussions extended to cultural and humanitarian cooperation, including the utilization of the "Stipendium Hungaricum" program facilitating Kazakh students' studies at Hungarian universities, as well as preparations for the upcoming V World Nomad Games in Astana.
During the visit, Vassilenko engaged in talks with Márton Schőberl, Director of the Hungarian Institute of International Affairs, focusing on current multilateral issues. Both parties expressed keen interest in broadening cooperation through research institutes in Kazakhstan and Hungary.
Since 2005, Hungary has channeled a gross inflow of $320mn in direct investment into Kazakhstan, with 29 legal entities, branches, and representative offices with Hungarian participation, alongside 41 joint ventures currently operating in Kazakhstan. Additionally, Hungary annually offers 250 grants to Kazakh students pursuing higher education in the country.
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