Kazakhstan and Hungary are strengthening cooperation. Kazakhstan and Hungary are set to create the first project in agricultural sector under the Direct Investment Fund, which was established last year. The project is worth $20 million.   At the meeting of the Kazakh-Hungarian Intergovernmental Commission on Economic Cooperation, Kazakh Minister of National Economy mentioned some of the successful Hungarian companies working in Kazakhstan. At present, there are nearly 50 joint ventures in Kazakhstan. Kuandyk Bishimbayev expressed hope that the Fund will report on the first results of work at the next meeting.

 

KUANDYK BISHIMBAYEV, KAZAKH MINISTER OF NATIONAL ECONOMY:

Kazakhstan pays great attention to the agricultural sector.  This is a promising area capable to diversify the Kazakh economy, making it less dependent on raw materials. Now we need to bring more new agriculture projects to this Fund.

 

MIHALY VARGA, HUNGARIAN MINISTER FOR NATIONAL ECONOMY:

Kazakhstan is a strategically important partner in Central Asia for Hungary. The country is a bridge between Europe and Asia. Hungary supports the interests of Kazakhstan and develops cooperation with the European Union. We must take advantage of our strengths.

 

During the meeting, the Kazakh Ministry of Healthcare and Social Development and the Hungarian Ministry of National Economy signed a memorandum of understanding in the employment sector. In addition, the State Revenue Committee of the Kazakh Ministry of Finance and the Hungarian State Treasury signed an agreement too. 

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