Investment, energy, logistics, nuclear industry, agriculture, financial sector, digitalization, and artificial intelligence - these areas of cooperation between Kazakhstan and Hungary were discussed by President Kassym-Jomart Tokayev and President Tamás Sulyok at the Akorda Palace during talks held in both narrow and expanded formats. The President of Hungary arrived in Kazakhstan on an official visit. President Tokayev emphasized that bilateral trade and economic relations have a solid foundation and significant potential.
«Hungary used to be one of the first European countries to extend its diplomatic recognition of our sovereignty and independence. And Budapest is the first European city which accepted our official diplomatic mission. And I believe that this trend will be continuously developing because it benefits the interests of both nations and both peoples,» Kassym-Jomart Tokayev noted.
Last year, bilateral trade reached almost $200 million. In the first eight months of this year, it grew by 22%. The goal, however, is to bring it to $1 billion. Relations received a significant boost following the Kazakh President’s state visit to Hungary last year, during which a number of important agreements were signed. Today, more than 35 Hungarian companies operate in Kazakhstan, with total investments of around $400 million.
«The MOL company is successfully operating in Kazakhstan’s gas sector, with other large-scale projects also under development. Major corporations such as UBM Group, Gedeon Richter, and Globalia also operate in the country. At present, 20 joint projects are being implemented. We are interested in expanding investment cooperation, and in this regard have agreed to strengthen collaboration in areas such as energy, nuclear industry, and agriculture,» Kassym-Jomart Tokayev added.
The Head of State described cultural and humanitarian ties as the cornerstone of Kazakh-Hungarian relations. Each year, 250 Kazakh students are awarded scholarships to study at Hungarian universities. The President also noted that domestic universities are ready to admit more Hungarian students. For his part, Tamás Sulyok emphasized that he regards relations with Kazakhstan as strategically important.
«We are following with great interest Kazakhstan’s digitalization process, which is not only advanced in the region but also globally. We regard your country as a respected partner in this crucial field and hope to develop bilateral cooperation. Hungarian-Kazakh relations hold enormous potential, and as the President of Hungary, I will fully support its realization,» Tamás Sulyok noted.
The Head of State highly praised Tamás Sulyok’s personal contribution to strengthening the partnership between Kazakhstan and Hungary and awarded him the Order of Dostyk (Friendship) of first degree. President Sulyok expressed his gratitude for the honor and assured that he would always remain a devoted supporter of Kazakh-Hungarian friendship.
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