Kazakhstan's President Kassym-Jomart Tokayev participated in a high-level Kazakh-Hungarian investment roundtable, emphasizing the strengthening of economic relations between the two countries. Speaking at the event, President Tokayev highlighted the dynamic development of their partnership and noted that his first state visit to Budapest marks the beginning of a new phase in bilateral ties.
"This year marks 10 years since the adoption of the Declaration on Strategic Partnership with Hungary. Over this period, our cooperation has been built on mutual trust and shared goals," said Tokayev.
He pointed out that Hungarian investments in Kazakhstan have reached $370mn, with over 70 Hungarian companies, including MOL Group and Gedeon Richter, successfully operating in the country.
The president further mentioned that Kazakhstan is working on joint investment projects worth over $540mn in key sectors such as mechanical engineering, agriculture, and logistics. He stressed that Kazakhstan's new political and economic paradigm will focus on knowledge-based transformations and innovation.
Tokayev also highlighted the vast opportunities for deepening investment cooperation in priority sectors such as energy, rare earth material production, transport and logistics, agriculture, pharmaceuticals, digitalization, and the financial market.
As part of the discussions, the president invited Hungarian business leaders to participate in the Astana International Forum scheduled for May 2025, emphasizing the forum's potential for fostering future collaboration.
The event was attended by Hungarian Minister of Finance Mihaly Varga, co-chair of the Kazakh-Hungarian intergovernmental commission on economic cooperation, as well as executives from major Hungarian companies.
At the conclusion of the roundtable, seven commercial documents were signed, focusing on joint initiatives in agriculture, transport infrastructure digitalization, education, and investment support projects. These agreements are expected to further enhance the economic ties between Kazakhstan and Hungary.
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