Kazakhstan and Hungary extend their business cooperation

Kazakhstan and Hungary extend their business cooperation

The 6th Meeting of the Kazakh-Hungarian Business Council (KHBC) was held on November 22, 2018 in Budapest.
The representatives of Hungarian and Kazakh business communities from different sectors participated in the work of the Meeting.

Opening the meeting, Co-chairmen of the Kazakh-Hungarian Business Council Dzhambulat Sarsenov and Laszlo Horvat welcomed the attendees, noting that the KHBC creates additional opportunities to strengthen and extend bilateral cooperation across the entire economic spectrum. They also expressed hope that fruitful cooperation will grow strong and the number of joint projects and relations between the companies will increase.

Mr. Mihaly Varga, Deputy Prime Minister and Minister of Finance of Hungary, and Mr. Timur Suleimenov, Minister of National Economy of the Republic of Kazakhstan, made their special appeals to attendees.
Mr. Gabor Szocs, Director of EXIM Bank, presented his speech on financial opportunities and Kazakh-Hungarian investment fund. Mr. Yerlan Bekmurzayev, Deputy Head of Investment and Entrepreneurship Development Administration of Astana Akimat, reported on the economic environment created in Astana. The reports on the advanced experience of Hungarian and Kazakh companies were presented by representatives of LAC Holding and Kazatomprom NAC JSC.

In his speech, Mr. Dzhambulat Sarsenov, Honorary Consul of Hungary to the Republic of Kazakhstan, noted that the status and prospects of Kazakh-Hungarian relations are characterized as stable without any political and other disagreements. Hungary rightfully holds a prominent place in the Eastern European direction of Kazakhstan’s foreign policy and is one of the most active and promising economic partners of Kazakhstan in Eastern Europe.

Several bilateral agreements were signed during the meeting. Namely, the Consulting company IFUA Horváth & Partners Kft. (IFUA) and KAZENERGY Association signed the Memorandum of mutual cooperation. The document will ensure the interaction between the parties in terms of attracting domestic and foreign companies to perform joint activities and business operations. This will also allow to raise the awareness of entrepreneurs in the Republic of Kazakhstan about the energy and other business areas of Hungary.

The participants of the meeting confirmed that representatives of business sectors and industrial and commercial chambers of both states are interested in cooperation and the activities of KHBC provide a good basis for this. The parties agreed that agriculture, agribusiness, education field - dual education development, health, tourism, food, construction fields, as well as manufacturing industry and water management provide great opportunities for the strengthening of bilateral cooperation between the Hungarian and Kazakh companies. The parties will share economic information, promote exhibitions of the two countries and provide assistance in the search for the relevant business partners. The closing part of the event was devoted to bilateral meetings of participants.